Indian investors can now save 30 per cent tax on crypto gains and 1 per cent TDS; heres how!

Indian investors can now save 30 per cent tax on crypto gains and 1 per cent TDS; heres how!

Karan Dsij
/ Categories: Trending, Mindshare

From July 1 onwards, the 1 per cent TDS on crypto transactions announced in Union Budget 2022

From July 1 onwards, the 1 per cent TDS on crypto transactions announced in Union Budget 2022, has come into effect. This means that when you are selling any cryptocurrency, you will pay 1 per cent TDS on the total order value along with a 30 per cent tax on your profits if any.   

However, Indian investors can gain exposure to Bitcoin, Ethereum, and other crypto-assets indirectly without having to buy any cryptocurrency directly. This has been made possible by Vested Finance. 

For example, you can invest in ProShares Bitcoin Strategy ETF, which offers investors an opportunity to gain exposure to Bitcoin without buying it. Alternatively, you can invest in Bitcoin Vest, a model portfolio that tracks the price of Bitcoin. 

The company has also added cryptocurrency-backed securities offered by Grayscale Investments to their premium offerings on the platform. Through Grayscale, the largest digital asset manager in the world, getting exposure to cryptocurrency is just like buying a US stock. Through this, neither you need to pay a 30 per cent tax on crypto profits nor be subjected to TDS when you sell your holdings.  

Previous Article Watch out for these penny stocks locked in the upper circuit on July 4
Next Article This small-cap paper stock soared over 12 per cent today! Do you own this trendy stock?
Rate this article:
5.0

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR