Loss from the sale of one type of crypto will not be allowed to be set off against the profit arising from the sale of another type of crypto.
Translation - Apka loss apka loss, Aapka profit hamara income.
New crypto tax policy is unreasonable & should be changed. Only a few days remain before it becomes applicable.
#reducecryptotax#reducecryptotaxDay44
New Crypto tax policy will be applicable from 1st April 2022. Flat 30% tax (Rich or Poor), 1% TDS (July Onwards), No deductions, Loss cant be carried forward.
#reducecryptotax#ReduceCryptoTaxDay42
Crypto community welcomes crypto tax but crypto tax in its current format will do more damage rather than help this innovative space grow.
Other Countries are already competing to become technological leaders in this space, India should not miss out.
#reducecryptotaxDay37
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