Day 55 - We hope GOI reconsiders its decision to tax crypto similar to the betting & gambling industry. This mistake will haunt us in the future.
#reducecryptotax
India 🇮🇳 well done again -
By killing the hope of youth to earn for themselves .
🇮🇳 We have once again made our Youth handicapped and now this will bring more unemployment.
Crypto TAX -30% nd TDS - 1%
Is not at all accepted
So pls reconsider #reducecrptotax#isupportcrypto
Day 48 - If the new tax policy is not changed, No setoff of losses between trading pairs will literally kill crypto trading in India & No deductions will kill Crypto Mining from the 1st of April 2022.
#ReduceCryptoTaxDay48
New crypto tax rules are too harsh & will hurt the entire industry if they are not changed. This will result in Brain Drain, kill trading, mining, and on top of that will create a lot of confusion. Only a few days remain before it becomes applicable.
#reducecryptotaxDay45
30% Flat crypto tax will impact investors who fall under the lower tax bracket.
1% TDS will kill crypto trading/exchange liquidity thus resulting in lower GST collection.
No deductions will kill Crypto Mining.
GOI should reconsider new crypto tax policy.
#reducecryptotaxDay39
Crypto is the result of innovation, hard work & trust of millions of everyday people. In India it is being championed by the common man and woman.
Taxation must support this spirit of everyday Indian. 30% tax may kill this spirit and the technology behind it.
#ReduceCryptoTax
Crypto Taxation is important. But to ensure healthy growth in the crypto asset segment, the TDS rate of 1% must be reduced to the minimum equivalent of the stock market.
#reducecryptotax#UnfairCryptoTax
30% Flat crypto tax will impact investors who fall under lower tax bracket.
1% TDS will kill crypto trading/exchange liquidity thus result in lower GST collection.
No deductions will kill Crypto Mining.
GOI should reconsider new crypto tax policy.
#reducecryptotaxDay36
The new tax policy will not affect investors who already fall into the higher tax bracket but will affect small traders, investors and miners.
#reducecryptotax#UnfairCryptoTax
TDS charge on every spot trade is going to be a big pain for traders & exchanges. If the objective is to track transactions on CEX, exchanges can share that data directly - not even sure why TDS is required on Spot trades & that too at 1%.
#reducecryptotax#reducecryptotaxDay33
#Crypto is a global asset class and an investment product. Trading crypto requires specific skills and cannot be compared to gambling. The tax rate should have at least been the same as it is for other asset classes. The proposed 30% tax will hamper wider adoption.
Crypto Tax is okay we are ready to pay but make it fair for everyone !
- Create Tax Slabs .
- Remove 1% TDS .
- LOSS TO BE CARRY FORWARD.
Crypto will bring huge self employment in India - So make it fair else India Might loose in long run.
#reducecryptotax#UnfairCryptoTax
New crypto tax policy if not changed will have a devastating impact on the entire crypto industry.
29 days remaining before it gets approved and becomes applicable.
#reducecryptotax#reducecryptotaxDay31
The new crypto tax policy will be applicable in 31 Days.
New tax policy won't impact investors who already fall under the higher tax bracket but it will impact small traders/investors, miners & new crypto start-ups.
#reducecryptotax#reducecryptotaxDay28
Unreasonable tax policy will have a devastating impact not only on Crypto traders but Crypto Industry as a whole.
#reducecryptotax#reducecryptotaxDay23