India Keeps Controversial Crypto Tax Rules Unchanged, Finance Minister's Budget Speech
India's Finance Minister introduced an interim budget on Feb. 1, 2024, before the nation's elections between April and June.
On Tuesday she revealed a full budget for 2024-2025.
India's Finance Minister kept crypto tax rules unchanged in her address announcing the nation's budget for 2024-2025 on Tuesday.
The primary demand from India's crypto industry was to reduce the controversial tax-deducted-at-source (TDS) policy on crypto transactions from 1% to 0.01%. It made its representations to government officials with evidence from several sources, including a think tank study that provided evidence to support a reduction in the TDS.
The industry also asked the government to establish progressive taxes on gains instead of the flat 30% rate, and allowing losses to offset gains. They have also pushed for multi-agency regulation.
#UnionBudget2024 #cryptotax

Finance Minister #NirmalaSitharaman will present the
#UnionBudget2024 for the fiscal year 2024-25 on July 23 🗓️

Will she reduce #crypto tax? 👇

Comment Your Thoughts...............

BIG UPDATE FROM INDIA 🇮🇳 🔥

The #UnionBudget2024 has started. The entire Indian #Crypto Community is uniting together to get better policies.

If India wants to grow technologically and compete with other big economies, it is important for India to have betterr taxation policies for the crypto community.

The government says that #Bitcoin is used to launder money? Well, we are all ready to give all the details of our trades to the government under fair policies.

What do we even want here?

➡️ Less TDS
➡️ Loss Set-off
➡️ Tax according to income slabs

Is this too much to ask for? Absolutely not. So, let's raise our voice and get this win for crypto in this #Budget2024 🔥

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