The Indian ministry of finance has formed a panel to examine how income from crypto investments can be taxed, according to a report by Inc42.

Fast facts

  • The panel will evaluate whether crypto income can be taxed as capital gains or if it requires the formation of a new category. The committee is required to submit its report in four weeks. Currently there is no specific crypto tax in the country, but incomes from cryptocurrencies are charged an 18% tax by crypto exchanges under the Goods and Services Tax (GST). The government, however, admitted earlier this year it has no data on tax collected from cryptocurrency incomes.