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📢India's crypto community needs a fair tax system!
👉We urge a shift from the flat 30% tax to a slab-based approach, aligning with traditional asset classes.
👉Allow loss set-off to encourage investment & innovation and reduce TDS to 0.1% to boost the digital economy & innovation while preventing tax evasion.
Let's build #DigitalIndia together @nsitharaman@PMOIndia #reducecryptotax 🙏⚡️
❤️🔁
We urge our Indian Govt. to provide clear and supportive crypto taxation rules to foster the growth of Web3 & Blockchain technology in India. 🙏
✨We request a shift from the current flat 30% crypto tax to a slab-based system, allowing for a more equitable distribution.
✨We also request the allowance for loss setoff, similar to practices in traditional markets, to encourage responsible investment.
✨Lastly, we suggest reducing the Tax Deducted at Source (TDS) to 0.01% or even lower.
Let's work together to make India a global leader in the blockchain space. क्यूंकि हमारे प्रधानमंत्री जी ने कल ही कहा है : तकनीक बोझ नहीं, सही उपयोग सीखना जरूरी @PMOIndia@nsitharaman
#reducecryptotax #CryptoTaxReform #Web3India