🇮🇳India imposes a crypto profit tax penalty of up to 70% starting February 2025
The Indian government will implement new tax laws in 2025, imposing a tax penalty of up to 70% on undisclosed crypto profits under the new regulations in Section 158B of the Income Tax Act.
This regulation will take effect from February 1, 2025, and will apply retroactively to any undisclosed crypto profits from the past 4 years, meaning that investors may face back taxes on previous income.
If not disclosed, profits from crypto will be taxed like cash, gold, or jewelry, at a higher rate than usual. This is a strong move by India to control the crypto market and tighten tax obligations for investors.