Spending crypto with a card in India? You're triggering a taxable event.
Here's the trap most degens miss:
You buy $ETH at ₹1L. Spend it later at ₹1.5L via card. That ₹50K gain? 30% tax + cess hits you.
Worse: foreign crypto cards don't auto-deduct tax. You're on the hook to calculate and report it yourself.
Every swipe = a taxable transfer under Indian tax law. Track everything or get rekt at ITR filing.
Don't sleep on this.
Here's the trap most degens miss:
You buy $ETH at ₹1L. Spend it later at ₹1.5L via card. That ₹50K gain? 30% tax + cess hits you.
Worse: foreign crypto cards don't auto-deduct tax. You're on the hook to calculate and report it yourself.
Every swipe = a taxable transfer under Indian tax law. Track everything or get rekt at ITR filing.
Don't sleep on this.