Crypto Income Tax Concern

Regulation and Compliance
1

Cryptocurrency Tax Inquiry

I earned a total of 2.3 lakhs exclusively from crypto transfers over the past year, with a 1% TDS deducted during sales on CoinDCX. Since this is my only income and it amounts to less than 2.5 lakhs overall, I am wondering if my earnings will still be taxed at a 30% rate when I file my Income Tax Return. Additionally, is filing an ITR mandatory for me under these circumstances?

2

hey sophia, it seems with 2.3 lacs as your only income, you likely isnt hit by that 30% rate and filing itr maybe not necessary. though, best to check with a tax pro as rules can be tricky.