Indian tax regulatory authority: Cryptocurrency gains before 2022 are subject to capital gains tax

ChainCatcher news, according to Decrypt, the Income Tax Appellate Tribunal (ITAT) in Jodhpur, India, ruled that profits from cryptocurrency sales prior to the introduction of the Virtual Digital Assets (VDA) regime in 2022 should be considered capital gains.

The ruling classifies cryptocurrencies, including Bitcoin, as capital assets, addressing the previous ambiguity surrounding the taxation of cryptocurrencies.