Manoj Punjabi (Accountant) (274 Points)
21 July 2022Sir
Is it necessary to declare crypto losses in I.Tax returns for FY 2021-22 (AY 22-23).
I don't want to carry forward the losses incurred in crypto & NFT trades.
I have other income as salary & rent., is it okay that I file returns only for this income without declaring Crypto & NFT losses.
Please Guide.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177840 Points)
Replied 21 July 2022
Crypto & NFT lossess cannot be adjusted against any other gains, nor it can be carry forwarded. But declare it under IFOS to avoid any future query.
CAclubindia
