HIGH crypto taxes in india: The cryptocurrency community in India has been grappling with HIGH taxation, including a 30% tax on profits and a 1% TDS. These taxing policies have led to an increased cost of trading and pushed talent and investment away from India.
Hope for tax relief: Sanjay Malhotra suggested that taxation should not harm industries or the broader economy, igniting hope in the cryptocurrency sector for a policy shift. His warnings against aggressive tax measures have been well-received by investors seeking a more beneficial framework.
Future prospects: Despite the uncertainty in the regulatory environment, investors remain watchful for potential changes. Previous warnings from RBI’s Shaktikanta Das highlight financial stability concerns, yet the crypto community is optimistic for a softer tax policy going forward.
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