Do I need to pay tax on crypto gains?

Do I Need to Pay Tax on Crypto Gains?

Yes. If you make a profit from selling or exchanging cryptocurrency in India, that gain is taxable. It is taxed at 30% (plus surcharge and cess). You need to report it in your income tax return and pay the tax. Even if 1% TDS was deducted at the time of transfer, you still need to report the full income and pay any balance tax. Keep proof of cost (purchase price) and sale price for each transaction so you can calculate the correct gain.