Terra Users in India May Face Tax Surprise

It is stated that users in India who benefit from the Terra airdrop may encounter tax surprises. According to a report by Bloomberg, Indian users may now face a tax burden after losing their assets with the collapse of LUNA and UST. Manhar Garegrat of CoinDCX, one of the country’s leading crypto-asset trading platforms, claimed that the airdrop could be seen as revenue due to the vague wording in the country’s recently enacted crypto-asset law.

As it is known, India’s controversial crypto tax law has been in effect since April. The law charges a sizable 30% tax on crypto earnings.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.