India Proposes 30% Tax on Crypto Income — Finance Minister Cites 'Phenomenal Increase' in Crypto Transactions
I propose to provide that any income from transfer of any virtual digital asset shall be taxed at the rate of 30%. No deduction in respect of any expenditure or allowance shall be allowed while computing such income, except the cost of acquisition. Nischal Shetty, the CEO of crypto exchange Wazirx, commented: “We also hope this development removes any ambiguity for banks and they can provide financial services to the crypto industry.”
staanli Fb
If they make profit, their govt tax it 30%. If loss, how?. Their govt. pay them?. 30%?.
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Just buy and sell in exchange only. Don't convert it into fiat. If you need money just transfer it into bank and pay 30% tax on your income coz thats what you call income.
I could name it corruption. What the hell is 30% tax on crypto gains. People put their life saving into crypto and you wanna tell me i should share it 😂😂. I can understand that they are gonna regulate but this fucking 30% of taxs is just something about corruption
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The minister does not perceive that business in the internal market could increase and even in the external sector. everything that facilitates transactions should be welcomed and not punished with immeasurable fees
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