Trader Z (Crypto Trader) (1 Points)
07 April 2024I have made 8 lacs profit from crypto currency trading and i also get 3.6 lacs per annum as bank FD interest. I have no other income source. I pay 1.5 lacs towards insurance premium.
How will my tax be calculated for this financial year ?
What will be the final tax that i have to pay ?
Nikhil Kaushik
(Fellow CA)
(85758 Points)
Replied 07 April 2024
tax on crypto income is calculated at flat 30% plus cess of 4%. the deduction under 80C for insurance can be claimed against interest income.
In case you need help in filing your taxes, DM me.
Abhishek Arthur
(50 Points)
Replied 11 April 2024
CAclubindia
