Income tax on crypto currency

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Crypto Trader
1 Points Joined April 2024

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 ?

 

 

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On 07 April 2024 at 14:49 Report
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Fellow CA
86871 Points Joined June 2009

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.

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On 07 April 2024 at 16:34
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50 Points Joined June 2019
VDA are taxed at flat rate of 30% no deduction or set off is allowed against it
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On 11 April 2024 at 12:23


CCI Pro

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