IF YOU HAVE GAIN FROM BITCOIN,THEN HOW TO FILE TAX RETURNS CORRECTLY?

in #moneyguruu • 6 years ago

HELLO FRIENDS,

Today, I will tell you how to file Tax Return If one has gains from selling Bitcoin, they will have to make sure they choose the right income tax returns (ITR) form. Wadhwa says, “ITR1 is not for you. Depending on whether it is considered capital gains or business income, you will have to opt for ITR2 or ITR3.” He also added, “Individuals may find it difficult to calculate capital gains. Hence, you may need help from tax experts.”

Also, investors would also have to be aware of the short-term capital gains as it will be clubbed with the salary income and taxed at slab rate. In the case of LTCG tax, an investor will have to pay 20% tax, with the benefit of indexation.

6 years ago in #moneyguruu by
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