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1% TDS On Cryptocurrencies From July 1: Here's How You Will Be Taxed

Cryptos will be taxed from April 1, 2022. As per the Finance Bill, 2022, no set-off of any loss arising from the transfer of virtual digital assets shall be allowed against any income computed under any other provision of the Act and such loss shall not be allowed to be carried forward to subsequent assessment years. Also, 1% TDS will be deducted on sale of these virtual digital assets. Watch this video to know how much money you will have to pay if you have to buy cryptocurrencies.