Can I mine cryptocurrency in India? In India, cryptocurrency mining is an unregulated process at the moment, Patel told ABP Live. “There are no regulations to ban people from mining cryptocurrency. As of now, since public cryptos are mined using the miners’ own resources, there are no laws designed for this process.”
Is crypto mining taxable in India? The Government has also confirmed that expenditure incurred in mining cryptocurrency is considered capital expenditure and not a cost of acquisition. Therefore, the considerable expenditure on the hardware required to mine cryptocurrency cannot be deducted from any income derived from the transfer of cryptocurrency.
Is crypto legal in India? India has levied a 30 per cent tax on crypto investors, and a 1 per cent TDS on every crypto intra-traders. Currently, India has not regulated cryptos but won’t legalise it as well.
Is earning from crypto legal in India? From being called speculative products to ‘virtual digital assets’ (VDAs), cryptocurrencies have come a long way. From April 1, India introduced a tax on all VDAs. The law states that any income earned from the transfer of digital assets would be taxed at 30 per cent with no deductions or exemptions.