{"id":1188,"date":"2024-12-17","guid":{"rendered":"https:\/\/APNOKACA.com\/blog\/?p=105601"},"modified":"2024-12-17","slug":"tax-exemption-on-crypto-gains-prior-to-fy-2023-key-itat-verdict","status":"publish","type":"post","link":"https:\/\/APNOKACA.com\/blog\/tax-exemption-on-crypto-gains-prior-to-fy-2023-key-itat-verdict","title":{"rendered":"Tax Exemption on Crypto Gains Prior to FY 2023: Key ITAT Verdict"},"content":{"rendered":"\n
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<\/i> Compliance <\/a>

Tax Exemption on Crypto Gains Prior to FY 2023: Key ITAT Verdict <\/h1> <\/div>

For Indian cryptocurrency investors, the Income Tax Appellate Tribunal's (ITAT) recent decision is a huge relief. Gains from bitcoin transactions completed before to FY 2022–2023 are exempt from the recently implemented 30% tax under Section 115BBH of the Income Tax Act, the ITAT clarified. Rather, depending on the nature and purpose of the transaction, these earnings will be taxed as either capital gains or business income under the current laws. This historic ruling guarantees that tax regulations cannot be enforced retroactively, eliminates uncertainty, and gives investors clarity. The decision emphasizes the significance of accurate record-keeping and helps taxpayers who still owe money on assessments from prior years. <\/p>

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<\/div> Krishna Gopal Varshney <\/a>

An editor at Myitronline<\/p> <\/div>