A student with an annual income below ₹2.5 lakh but a cryptocurrency profit of ₹80,000 must file an Income Tax Return (ITR) in India. According to the tax rules, crypto profits are taxed at a flat 30% rate, with an additional 4% cess. This means a total tax liability of ₹24,960 on the ₹80,000 profitRead more
A student with an annual income below ₹2.5 lakh but a cryptocurrency profit of ₹80,000 must file an Income Tax Return (ITR) in India. According to the tax rules, crypto profits are taxed at a flat 30% rate, with an additional 4% cess. This means a total tax liability of ₹24,960 on the ₹80,000 profit, regardless of whether the individual’s total income falls below the basic exemption limit.
Since cryptocurrency transactions are monitored by the Income Tax Department, failing to disclose such income can lead to penalties or scrutiny. Filing an ITR not only ensures compliance but also helps in maintaining a clean financial record for future credit or loan applications.
Experts recommend filing the ITR promptly and consulting a tax advisor to avoid complications.
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Bybit is actually one of the big players in the crypto space. It’s been around since 2018 and a ton of traders — like millions — use it worldwide. They’re known mostly for derivatives trading (like futures), but now they also do spot trading, copy trading, and even have their own launchpad and earnRead more
Bybit is actually one of the big players in the crypto space. It’s been around since 2018 and a ton of traders — like millions — use it worldwide. They’re known mostly for derivatives trading (like futures), but now they also do spot trading, copy trading, and even have their own launchpad and earn programs.
Security-wise, they take it pretty seriously. They’ve got stuff like cold wallets, withdrawal verifications, and a pretty solid track record — no major hacks or shady stuff like some other platforms.
Regulation-wise, they’re not available in some regions like the U.S., but they operate under multiple licenses in other countries. So yeah, if you’re in a supported country, it’s one of the more trustworthy places to trade crypto.
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