Are NFTs taxed in India?

Are NFTs Taxed in India?

NFTs (non-fungible tokens) are treated as virtual digital assets. When you sell an NFT for crypto or INR, or swap it, any gain is taxable at 30% (plus surcharge and cess). The cost of acquisition is what you paid to buy the NFT (including gas/fees). Same rules apply: no set-off with other income, no carry-forward of losses. Keep records of purchase and sale. TDS may apply on transfers above the threshold. Report NFT gains in your return under the VDA head.