Tax

Tax on Payment received in Crypto Tax on Payment received in Crypto

Hello,

I am a Business Consultant based in India. I get my consultancy fee (gross revenue) from my Hong Kong client via USDT. Its gross revenue received as Consultancy Fee(professional income) and not profit.

Under new Crypto Bill will I pay 30% tax on the gross USDT Crypto I receive or I will pay tax as per tax slab on my actual income? Like I said this fund I receive for my service I am not trading/investing or making any profit from trading/investing in crypto. How will my tax calculated?

Kishan Dutt Kalaskar Retired Judge

Responded 9 months ago

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A.Dear Sir,
Please consult an expert on the above issue or approach Auditor or chartered accountant and claim benefits accordingly. Lawyers are unable to answer your questions.
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Vidhi Samaadhaan Vidhi Samaadhaan

Anik

Responded 9 months ago

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A.Dear Client,

As you’re not trading in crypto and just consulting regarding it. Thus, you’ll have to pay consultancy tax for the service you’re providing.
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