Bollywood Actor Paid Over $130,000 in NFT Taxes

Bollywood megastar Amitabh Bachchan has paid more than $130,700 in taxes for auctioning his non-fungible tokens (NFT) after receiving a notice from the tax authorities, according to Indian media.

The superstar had to pay goods and services taxes (GST) on the digital collectibles he sold last year after India announced it was levying a 30% tax on digital assets like crypto, and categorizing NFTs as virtual digital assets under India’s updated Income Tax Act.

Cryptocurrency taxes in India are currently in the highest tax band and on par with gambling.

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