Deepak pawar 🌐

[Pushpendra Singh @pushpendrakum]

We request finance ministry to change current crypto tax laws :

1. Flat 30% Tax
2. 1% TDS
3. No loss setoff
4. Cost of acquisition not defined.

Community Proposed:

1. Tax should be in slabs
2. No tds / 0.01% TDS
3. Loss setoff

#reducecryptotax

[Altcoin Daily @AltcoinDaily]

Bitcoin halving - 35 days 🚀🚀🚀

[Pushpendra Singh @pushpendrakum]

Finally mainstream media is covering #reducecryptotax

Let’s trend once again

🔁❤️

[Nischal Shetty @NischalShetty]

Day 713

Why is TDS such a big issue for traders in India?

TDS involves a 1% tax deduction every time an Indian trader sells their digital asset.

This TDS is then deposited on behalf of the seller.

The seller can eventually get a refund if they’re not liable to pay it as income tax.

Since high frequency traders rotate their capital at a high rate, they end up having a large tds deduction over time.

This leads to a few issues:

1. Unnecessary capital lock-in
2. Long refund cycle
3. Inability to trade for remaining months till refund is received

Since they cannot trade if the capital is locked up, this leads to less income which in turn leads to less income tax collection for the government.

So technically, tds is hurting the tax department too, since the income tax collection is lower from high frequency traders. This could have potentially been higher if the tds rate was lowered to 0.01% or completely eliminated.

Let’s hope TDS is reduced in India so that the Web3 community can succeed.

#BuildWeb3 #reducecryptotax

[Pushpendra Singh @pushpendrakum]

❤️ #reducecryptotax

[Aditya Singh @cryptoady]

#ReduceCryptoTax Petition now has over 1 lakh 10 thousand signatures.

#ReduceCryptoTax Is also trending on X Again.

Petition outlines impact of current harsh tax laws and suggests reasonable tax changes.

Sign the petition :

English - https://t.co/QJ2r7Qoamf
Hindi - https://t.co/lvCTKzyx1s

[Sumit Kapoor @moneygurusumit]

China banned #cryptocurrency activities in 2021 when #Bitcoin prices were around $40,000.

Later, around 2022, they lifted the ban when prices dropped to $16-18,000, allowing the citizens to buy at the cheapest prices.

Let's see the Timeline followed by Indian government;

➡️ 2018, the Indian government banned banks dealing in #crypto.

➡️ 2020, the Supreme Court removed the banking ban.

➡️ 2021, the Indian government initially liked the idea of cryptocurrencies and considered them as an asset class when prices were around $65,000.

➡️ 2022, they changed their mind, calling crypto a scam and linking it to potential terrorist use when prices dropped to $20,000.

They also put 30% Crypto Tax + 1% TDS on trading.

➡️ 2024, India is blocking access to major cryptocurrency exchange websites when prices are around $42,000.

It seems that they will unban these exchanges when prices will go above $100,000. 😂

#Reducecryptotax

[RAJ @RAJ73204140]

#reducecryptotax

[Rananjay Singh @TodayCryptoRj]

🇮🇳 #reducecryptotax is now trending in India 🚀

[Karan Singh Arora @thisisksa]

The Indian government, instead of playing with the emotions of Indian #crypto community, should try to actively support the new innovation because it'll only help in India's economic growth.

Crypto opportunities in India are absolutely limitless which is why the government needs to support it, rather than have strict policies against it. The policies are the only reason why India's youth now wants to move out of country and go to #crypto friendly places.

The sooner our government realizes that #Bitcoin is the future, the better it is for us. On one hand, we see SEC approving the spot #BitcoinEFT, and in India, we have the government banning URLs of top foreign exchanges.

We should work on the #reducecryptotax movement and try to open our government's eyes on the benefits of #web3 and what they're missing out on!

[Crypto Aman @cryptoamanclub]

Indian🇮🇳 government wants to kill Crypto industry. More than 500+ #web3 active startups in India till July 2023 and 11% of world’s #crypto, Web3 talent is in India.

However Indian government treat #cryptocurrency as a gambling ❓

And The earnings from trading, selling, or swapping #cryptocurrencies are taxed at a flat 30% and No loss set off Other than this, a TDS at 1% is also applicable on the sale of Crypto .

Support guys like and retweet 🙏

#reducecryptotax

[Budhil Vyas @BudhilVyas]

#reducecryptotax is trending 😍

[Online Crypto School 🏫 @CryptoSchool13]

International Crypto Exchange Ban 😢 - Not Solution

Freedom or Not ?

What’s the solution?

#reducecryptotax

Agar aap Indian crypto trader h So aap isko Repost & Comment karey #reducecryptotax

[Pushpendra Singh @pushpendrakum]

#reducecryptotax is trending.

#repost
#like
#quote
#share

[Budhil Vyas @BudhilVyas]

#reducecryptotax

India deserves a fair and friendly #Crypto tax regime

Here's my #CryptoTaxWishlist 🇮🇳

- Tax crypto gains like stocks, with flexible slabs based on holding period and income level.

- 🚫 Scrap the 1% TDS on crypto transactions, or reduce it to a nominal 0.01%.

- Allow crypto investors to carry forward their losses, just like stock investors can.

Join me in demanding #reducecryptotax for the Indian Crypto Community! 🚀

[Deepak pawar 🌐 @Deepak974244424]

#reducecryptotax

[Wise Advice @wiseadvicesumit]

It's Good To See That Some Politicians Are Talking Sensibly About Crypto And Thinking About The 🇮🇳 Indian #Crypto Community And Its Users

This Video Is Old But Now It's Time For More Politicians To Step Up; Otherwise, The Country Will Get Left Behind In Innovation.

#reducecryptotax

[EliZ @eliz883]

Thx for the play 140% move $ICX retweet very appreciate 🫶🤝

[Crypto_Jobs @CryptoJobs3]

$ICX

Double top, or moonshot like $SXP ? 🚀

[Evan Luthra @EvanLuthra]

Airdrops can easily make you $100,000 🚀

If you have missed:

• Arbitrum ($ARB)
• Blur ($BLUR)
• Aptos ($APT)

Here are 7 airdrops that you can keep an eye on: 👇

[Albert III @AlbertcryptoN]

#BTC is breaking out off another consolidation👀

Bullish📈