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Income Tax - Highlights / Catch Notes

Home Highlights December 2024 Year 2024 This

Gain on sale of crypto currency (bitcoin) prior to AY 2022-23 is ...


Crypto gains taxed as long-term capital gains, 54F deduction allowed if held >36 months.

December 23, 2024

Case Laws     Income Tax     AT

Gain on sale of crypto currency (bitcoin) prior to AY 2022-23 is chargeable to tax as capital gain. Deduction u/s 54F is allowed since assessee held crypto currency for more than 36 months. ITAT allowed the assessee's grounds - income on sale of crypto currency is taxable as long-term capital gain and deduction u/s 54F of the IT Act is applicable.

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