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Last Updated On 13-Apr-2022
Tax

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?

( Cuttack, Orissa )

11-Apr-2022

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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.
Posted On 13-Apr-2022
Kishan Dutt Kalaskar
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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.
Posted On 11-Apr-2022
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