Bitcoin has surged past the $100,000-mark. In India, any profit from crypto transaction is taxed at a flat rate of 30% (both short-term and long-term). Additionally, a 1% Tax Deducted at Source (TDS) is applicable on transactions exceeding ₹50,000 (₹10,000 for non-salaried individuals) in a financial year. Crypto transfers however are not eligible for income tax deductions.