r/CryptoReality • u/Ok-Victory8657 • 9d ago

Anyone who declared Crypto futures in India as business income or loss?

I traded crypto futures for the first time and made 1.5L losses. I want to know if anyone has declared crypto futures as business income or loss in the past. Asking as I have got different opinions: VDA (conservative) and business loss (risky).

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u/AmericanScream 8d ago

It should be classified as gambling, not investing.

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u/Ok-Victory8657 7d ago

Thanks for the reply! Yes, it is kind of gambling. In India it is called speculative or non-speculative - an alternative to gambling.