So I’m a scholar and this is my first time dealing with crypto taxes, so I’m a bit confused. Principally, I invested about ₹15okay in crypto on WazirX, however later all that cyber assaults and stuff happened in 2024 and I forgot about it. However as I logged in and did ReKYC, I noticed that the worth dropped and I bought all the things for around ₹9.5k and transformed it to INR. The amount is now in my INR wallet. I tested a withdrawal and transferred ₹1k to my checking account successfully. Since I truly bought at a loss (₹15okay → ₹9.5k), I needed to ask:
- Do I nonetheless have to pay any crypto tax if I made a loss?
- Do I have to file an ITR just because I purchased and bought crypto?
- I’ve by no means filed ITR earlier than since I’m a scholar with no different revenue, so does this alteration anything?
I'd actually respect advice from anyone who has dealt with crypto taxes in India. Thanks!
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