I earned crypto via blockchain gigs and bug hunting and plan to liquidate over 15 lakhs INR, though I'm a college student with no income. Must I pay taxes?
hey, converting crypto to inr, even as a student, can trigger capital gains tax. a sum like 15 lacs isn’t trivial. best chat with a tax pro to nail down your dues and avoid any issues later on.
As someone who has navigated similar situations, I recommend considering all crypto earnings as potential taxable income regardless of your current income status. My experience indicates that any gains from liquidating crypto, especially with significant amounts, are subject to tax under Indian law. It is advisable to maintain detailed records of your transactions, including purchase and sale dates and amounts. Although college students may have limited income, capital gains from crypto can attract taxation. Consulting with a tax professional can help ensure compliance and avoid any future legal complications.