I 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 ?
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.
Kothari Jain Patil & Chartered Accountants
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