Many Indians have signed a petition for the government to introduce reasonable crypto tax policies. This week, India’s finance minister, Nirmala Sitharaman, proposed taxing crypto income at 30%.
The petition begins by noting that there are about 15-20 million crypto investors in India as well as several hundred thousand young Indians who are part of the industry. In addition, Indian investors are holding about $6 billion in crypto assets. The petition adds: Crypto Industry also contributes significantly to the country in the form of providing employment, bringing in FDI Investments, GST payments, and Income tax revenues to the government.The first request is for the crypto industry not to be treated like the betting and gambling industries. The second is to bring the current proposed tax rate of 30% in line with the tax rate applicable to stock market transactions.
Furthermore, the proposed 1% tax deducted at source should be reduced to 0.05% and “Loss set-off and carry-forward should be allowed since crypto markets are in their initial stages and are highly volatile.” The cost of acquisition should also be defined “to include exchange fees, blockchain network fees, interest payments, royalty payments on NFTs, etc.”We urge you to kindly consider these requests from the industry.
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CryptooAdy 30% is too much too too much
Thank
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CryptooAdy 30% tax is too much man what will we small investors do
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They are short sighted and not thinking long term. They will realise this later like Japan did in their lost decade, India is repeating the mistake reduceDigitalAssetTax
indian Goverment Please reduce the taxes on crypto. Loss should be carry forword tds should be 0 . Crypto Should not be consider in gambling category. 30% Taxes should be in slab. nsitharaman PMOIndia
Indian Goverment Please reduce the taxes on crypto. Loss should be carry forword tds should be 0 . Crypto Should not be consider in gambling category. 30% Taxes should be in slab. nsitharaman PMOIndia
Shri JPNadda ji PMOIndia nitin_gadkari ji AmitShah ji plz sir reducecryptotax removecryptotax and support 🇮🇳 youth!
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We strongly needs faircryptotax otherwise Indian govt vision of sabka saath sabka vikas and sabka Vishwas has no value at all.... And govt has to understand this How youth will vote them... If such harsh decisions govt take... Govt must understand this.... reducecryptotax
Thanks for supporting and sharing ❤️🤗
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Nothing will be addressed and everyone knows what I mean. Need to correct something which is never be corrected ever 😂 Gov CryptooIndia WazirXIndia
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Adopt Bitcoin now and you, Prime Minister Modhi will go down in HISTORY as the most prolific leader of India. And perhaps TIMES Man of the year. Mohattma who? IndiaWantsCrypto
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I am someone who is losing everything. The bank will confiscate our house and I will stay on the street with my daughter. please help me. I'm not a cheater, I can prove anything I say, I'm just desperate.
Modi ji getting greedy
He is a deaf man and always ready to harass people of India. Farmers fought for 15 months for justice.
Please if someone can say a Vitalik Buterin that someone make profil on Instagram with his info and cheating people, like if you send them eth he give you back doble or more....they cheat me too, I make captures! They will cheat more people! Is horrible, if someone know Vitalik
The whole thing is a hocus pocus...wots this act of them hearing the voice of Esau but the body is Jacob's..too decietful of all tym
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