New Delhi, May 10 -- With more Indians investing in cryptocurrencies and overseas equities understanding the tax treatment of these assets has become crucial. Taxpayers earning earning profits from Bitcoin, Ethereum, US stocks, ETFs, or other foreign assets are required to disclose such income while filing their income tax returns (ITR) in the relevant financial year,

Failing to comply with the income tax regulations in India such as missing return deadlines, hiding income, or ignoring notices can attract steep penalties, heavy interest and potential prosecution. Hence, making accurate disclosure and tax calculation increasingly important during the filing season.

Profits from the sale of crypto assets are taxed at a flat rate of 30% un...