Can A Loss In One Cryptocurrency Offset Profit In Another at Breaking News

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Can A Loss In One Cryptocurrency Offset Profit In Another, Spending crypto to buy a good or service. Although many crypto investors value digital assets on a different level, indian authorities have viewed it as winning from a lottery, casinos, gambling, or betting, which attracts over 31.20% gst on the entire. Loss in one crypto asset can't be set off against another, clarifies govt premium set off of losses means adjusting the losses against the.

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Minister of finance (state), mr. India’s proposed taxation law of virtual digital assets won’t permit individuals to offset loss on one asset against profit from another, the ministry of finance said monday in a move that the head of the nation’s top cryptocurrency exchange termed as “detrimental” and “regressive.” Loss in one crypto asset can't be set off against another good news for taxpayers!

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You buy an equal amount worth of btc and doge, with bitcoin, you made 40% profit but you lost 50% in. India has been tightening its grip on crypto users with its latest set of rules and is considering a central bank digital currency (cbdc) as an alternative. 800 on bitcoin, you will. You are not allowed to offset your losses from one crypto with another one that made you profit. Minister of finance (state), mr.