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March 21, 2022

Three crypto tax related clarifications by govt

by CA Shivam Jaiswal in Income Tax

Three crypto tax related clarifications by govt

Two big crypto related clarifications issued by Govt in Lok Sabha today.

1) Crypto to crypto loss adjustment not allowed.

2) Gain on 1 crypto cannot be set off against loss on another

3) Infrastructure costs for mining cryptocurrency cannot be deducted as cost of acquisition

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