NEW DELHI: In a setback for crypto enthusiasts and trading platforms, the government on Monday clarified that losses incurred from one kind of virtual digital assets (VDAs) cannot be set off against the gains from any transaction involving another VDA while computing tax. This implies that investors will have to pay a 30 percent tax for every gain they make and losses are not deductible from the final taxation amount if different tokens are traded.
What does this tax clarification imply?
