As the title, I am interested in knowing how is the taxation been calculated on crypto trading.
Test case:
we have a account with wazirX and now below will be the transaction based on daily trade.
1) Investment amount 10,000/-
Day 1 : (0 Profit, 0 Loss)
5k in BTC
3k in ETH
2k in meme coins
Day 2 : (1k profit, 0 Loss)
Sold Meme Coins for 3k
Bought meme coins of 2k again later at that day
Day 3 : (3k profit, 1K Loss)
Sold BTC for 4k
Sold ETH for 6K
Now on day 3rd we have 11K cash and 2k in meme coins.
so what will be the tax here to be paid based on this 3 days trading?
I hope above information helps in understanding my query
Test case:
we have a account with wazirX and now below will be the transaction based on daily trade.
1) Investment amount 10,000/-
Day 1 : (0 Profit, 0 Loss)
5k in BTC
3k in ETH
2k in meme coins
Day 2 : (1k profit, 0 Loss)
Sold Meme Coins for 3k
Bought meme coins of 2k again later at that day
Day 3 : (3k profit, 1K Loss)
Sold BTC for 4k
Sold ETH for 6K
Now on day 3rd we have 11K cash and 2k in meme coins.
so what will be the tax here to be paid based on this 3 days trading?
I hope above information helps in understanding my query