Profits derived from the sale of cryptocurrency prior to April 1, 2022, will be taxable as capital gains, and taxpayers will be entitled to avail themselves of exemptions under the Income Tax Act against such profits, the Jodhpur bench of the Income Tax Appellate Tribunal has held.The ITAT’s order stems from an appeal filed by Raunaq Prakash Jain, a resident of Bhilwara city in Rajasthan, against an order of income tax authorities.In fiscal 2016…

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Crypto Gains Before FY23 Eligible For Tax Exemptions, Rules ITAT

The decision classifies crypto, including Bitcoin, as capital assets, resolving ambiguity that previously surrounded crypto taxation.

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India Tax Regulator: Pre-2022 Crypto Gains Are Subject to Capital Gains Tax

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The Income Tax Appellate Tribunal (ITAT) in Jodhpur, India, has today clarified the taxation of crypto transactions conducted before the financial …

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Crypto Gains Before 2022 Fall Under Capital Gains Tax, India Tax Regulator Confirms

The Income Tax Appellate Tribunal (ITAT) in Jodhpur, India, has today clarified the taxation of crypto transactions conducted before the financial year (FY) 2022-2023. According to the ruling, profits from all such transactions will be treated as capital gains. ITAT Gives Clarity On Pre-2022 Crypto Taxation In what is considered a landmark ruling for India’s digital assets ecosystem, the ITAT declared that cryptocurrencies like Bitcoin (BTC), Et…

Bitcoinist

The Income Tax Appellate Tribunal (ITAT) in Jodhpur, India, has today clarified the taxation of crypto transactions conducted before the financial year (FY) 2022-2023. According to the ruling, profits from all such transactions will be treated as capital gains. ITAT Gives Clarity On Pre-2022 Crypto Taxation In what is considered a landmark ruling for India’s […]

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The Income Tax Appellate Tribunal (ITAT) in Jodhpur in a recent ruling has classified cryptocurrencies as capital assets…

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ITAT Jodhpur Ruling: Cryptocurrency Classified as Capital Asset

ITAT ruled pre-2022 cryptocurrency gains as capital assets, subjecting profits to capital gains tax with applicable deductions. Profits from cryptocurrency sales before April 2022 qualify for long-term capital gains if held for over three years. Post-April 2022, cryptocurrency gains face a flat 30% tax rate without deductions, under new Virtual Digital Asset regulations.   The Income Tax Appellate Tribunal (ITAT) in Jodhpur has ruled that profit…

Crypto Gains Before FY23 Eligible For Tax Exemptions, Rules ITAT

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