Crypto tax becomes law amidst industry outcry against high tax rate
As per the new crypto tax law, loss from the transfer of virtual digital assets will not be allowed to be set off against the income arising from transfer of another VDA.
As per the new crypto tax law, loss from the transfer of virtual digital assets will not be allowed to be set off against the income arising from transfer of another VDA.
Some stakeholders believe the high tax rate and no loss set off against other income might discourage transactions in cryptocurrencies.