News & Media 14th Jan 2024
Planning to invest in a Bitcoin Exchange Traded Fund (ETF) approved by the UD Securities & Exchange Commission (SEC) ? It’s better to wait for the government to come out with a clear policy with regard to taxation.
Shishir Sinha from Business Today writes on “Lack of taxation clarity may cloud resident Indians plans to invest in Bitcoin ETF in US” with views from our Partner Rahul Charkha.
Rahul says, “Bitcoin falls within the definition of virtual digital asset (VDA) under the Information Technology (IT) Act, and hence any income from transfer of Bitcoin is taxable at the rate of 30 %”.