India’s Crypto Tax Comes Into Effect Today, Violators Stare at Jail Time Up to 7 Years

Crypto community in India has finally stepped into a tax regime today (April 1). A 30 percent tax will now be deducted from crypto profits, as per Finance Minister Nirmala Sitharaman’s instructions. Rule breakers could be subject to serious legal troubles. Members of India’s law fraternity believe these rules were much needed and are coming at the right time.

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