Tax Budget 2022: Big Expectation’s among Crypto Investors for Tax Budget happened at February 1st 2022.
Many Cryptocurrency Investors are Waiting for the Budget 2022, where the income from Crypto are taxable and the question Mark about Cryptocurrency Future.
On Budget Day, Either two Choices are going on Minds of Crypto Investors. One that Tax Slab rate for Digital Assets another one is Will Crypto ban in India?. The good thing is Digital Currencies are not banned, But the tax for Cryptocurrencies are Flat 30 Percentage.
What Finance Minister Announced in Budget was “I Propose to provide that Income from Virtual Digital Asset will be taxed at the rate of 30%”
For the Decision, Famous exchange App Wazirx Founder Announced on Twitter that
Clarity on crypto tax as well!
— Nischal (Shardeum) ⚡️ (@NischalShetty) February 1, 2022
Income from transfer of any digital asset to be taxed at 30%
No expenditure deduction except cost of acquisition
Loss from digital asset cannot be setoff
Yet another step towards positive crypto regulations 🚀🚀🚀#IndiaWantsCrypto
Future of Cryptocurrency is Very Safenow in India, But the Tax Burden is Little high for Crypto Investors, It will Lead to Low Profit.
