Are there any exemptions to India's gift tax limit for cryptocurrency gifts?

3 answers

• Dec 29, 2021 · 3 years ago
  According to the current tax laws in India, there are no specific exemptions for cryptocurrency gifts. Any gift, including cryptocurrencies, above the specified tax limit will be subject to gift tax. It is important for individuals to be aware of the tax implications before gifting cryptocurrencies to avoid any potential tax liabilities.
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• Dec 29, 2021 · 3 years ago
  Unfortunately, there are no exemptions to India's gift tax limit for cryptocurrency gifts. The tax laws treat cryptocurrencies as assets, and any transfer of assets as a gift is subject to taxation. Therefore, individuals should consider the tax consequences before gifting cryptocurrencies to avoid any surprises.
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• Dec 29, 2021 · 3 years ago
  As an expert from BYDFi, I can confirm that there are no exemptions to India's gift tax limit for cryptocurrency gifts. The tax laws apply to all forms of gifts, including cryptocurrencies. It is advisable for individuals to consult with a tax professional to understand the tax implications and plan their gifting accordingly.
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