Indian crypto tax policy became even more complicated just a week before the new tax laws are set to come into effect. A new parliamentary note answering queries about the new tax policies on virtual digital assets suggests that traders can’t offset their losses from one digital asset against profit on another.
As the new tax policy waits for April 1 to come into effect, many experts claim the latest clarification from the government is a death knell for traders. The crypto tax policy of the government expects traders to treat each investment and profit/loss on a digital asset independently.