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How To File Crypto Tax in India - Crypto Taxation ITR-Filing, Evaluate, and File your crypto taxes
Donate Crypto to Charity. Another option for those researching how to not pay taxes on Bitcoin is to donate cryptocurrency to charity. This is a. What's the best way to avoid crypto tax? One of the simplest ways to legally reduce your crypto tax is to hold your cryptocurrency for longer than 12 months. The penalty for tax evasion is up to $, in fines or 5 years in prison. You can use Form to declare taxes you've previously avoided on crypto. Crypto.

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Capital gains: If you dispose of your cryptocurrency, your profits will be subject to capital gains tax. However, there are other tax environments, some that are lower and even zero tax in certain cases. Your cost base is the amount you paid for your crypto and any costs for:. This capability allows the ATO to identify who is buying and selling crypto and monitor the transactions closely.