International travel has taught me:
People break queues everywhere - not just in India
Bureaucracy, red tape is everywhere - not just in India
Scams are everywhere - not just in India
We keep saying - iss desh ka kuch nahi ho sakta
That feeling is global!
Income tax @30%
GST (Under consideration) @28%
TDS (Proposal) on #DeFi@20%
Yes, we are not banning the virtual digital asset industry but we are also not allowing it to flourish as well.
Why 1% TDS on crypto is restrictive-
Let's say you have 1 lakh and trade full amount on every trade, you pay 1% of the remainder capital as tds.
By the 100th trade-
TDS paid - 63396
Capital left - 36603
By 300th Trade -
TDS paid - 95095
Capital left - 4904
Right question regarding #Bitcoin in the parliament would have been :
whether the Government has any proposal to recognise #Bitcoin as an asset in the country.
I just got off with a call with a few high-level officials from MoF.
There is no complete ban, but the direction is to regulate crypto in line with FATF guidelines.
Crypto will be just assets class regulated by SEBI. Exchanges will need licences—all positive notes.
The Shiba Inu Coin community was able to get over 2069 retweets in less than 24 hours. Actually pretty impressive!
Now let’s show everyone how many retweets the #Dogecoin community can get in 24 hours! ⬇️