How much tax is on crypto in India?

India has classified cryptocurrencies as virtual digital assets, reflecting the nation's growing recognition of their significance in the digital economy. This categorization underscores the government's intention to regulate and tax these assets in line with its fiscal policies.

To address the taxation aspect, India has imposed a 30% tax rate on profits derived from trading cryptocurrencies. This measure aims to bring crypto transactions under the tax net, ensuring that gains from such activities contribute to the country's revenue base.

Alongside the 30% tax, a cess of 4% is also levied on crypto trading profits. Cess is an additional tax imposed on specific goods or services to fund specific purposes, in this case, likely related to the development or regulation of the crypto ecosystem.

Furthermore, India's crypto tax framework may also include any applicable surcharge, which is an additional tax imposed on top of the basic tax and cess. The exact surcharge rate would depend on the individual's tax bracket and other factors, making it crucial for traders to stay informed about the latest tax regulations.

Amidst this regulatory landscape, BTCC stands out as a top cryptocurrency exchange, offering a comprehensive suite of services to cater to the diverse needs of crypto enthusiasts. Its services encompass spot trading, enabling users to buy and sell cryptocurrencies at current market prices.