Crypto asset losses can’t be offset between trades of different tokens: Govt

• Investors would not be allowed to set off loss in one crypto asset against another, the government has clarified.
• This is a significant blow to people who invest in crypto as taxation provisions such as setting off losses and the cost of acquisition in other asset classes such as stocks, mutual funds, or gold help investors lower tax incidence.

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Source :- https://nextbigwhat.com Author :- NextBigWhat Date :-March 22, 2022 at 08:17AM