Ready to cash out Bitcoin? Understand income tax rules on cryptocurrency in India

Since Donald Trump’s victory in the US presidential elections on November 5, 2024, Bitcoin, the world’s largest cryptocurrency, has risen more than 30%, reaching its highest point ever. Investors have significantly benefited from this boom. If you are invested heavily in Bitcoin and want to book profit from this biggest crypto asset, remember that taxes on virtual digital assets (VDAs) in India operate differently than those on more conventional investment products like equities and mutual funds.