GK Question

technology medium true_false

India's crypto tax framework requires reporting of all virtual digital asset transactions regardless of profit/loss.

  1. True
  2. False

Answer: True

Section 115BBH taxes crypto transfers at 30% on gross value, with 1% TDS. No loss offset allowed. Critical for comprehensive tax compliance and transaction tracking.

Topic Crypto Regulation
Exam Relevance Banking, SSC, UPSC