Income Tax Consultant Interview Questions and Answers

As an Income Tax Consultant, I can explain tax treatment of Crypto Currency, LTCG & STCG rates, and speculative & non-speculative income.

• Crypto Currency is treated as capital asset and taxed accordingly

• LTCG is taxed at 20% with indexation benefit, while STCG is taxed at slab rates

• Speculative income is taxed as business income, while non-speculative income is taxed as capital gains

• Losses from speculative income can be set off against any income, while losses from non-speculati...read more