GK Question

technology medium true_false

India's crypto tax framework allows deduction of acquisition cost when computing taxable income.

  1. True
  2. False

Answer: False

Section 115BBH taxes crypto income at 30% on gross transfer value, no deduction for acquisition cost except cost of acquisition. No loss offset allowed. Critical for accurate crypto tax compliance.

Topic Crypto Regulation
Exam Relevance Banking, SSC, UPSC