Yeah this is always the government tactic to always milk it's citizens with whatever opportunity they can instead of helping them invest moreWhen government coffers are empty, they look for different ways to tax people. I don't think people will trade in a straight forward way; they will find ways to circumvent taxes.
If there will be an 18% rate in tax regulations, it is a really high rate. Such a large amount of tax will prompt investors to look for other ways.18% is a way to high when there is no assurance of any benefit government is gonna give the traders. It is better reduced for an enabling trading environment for Crypto enthusiasts.
It a technical way to limit people access or activities arround Crypto currencies in the country, I am sure people will find ways to bouycot such taxes.If there will be an 18% rate in tax regulations, it is a really high rate. Such a large amount of tax will prompt investors to look for other ways.
This is not an improvement. They will be restricting a lot of people from making gains in the future.As at now India wants to create its own digital money system and its a way to go in my view.They have no further intentions to allow people to hold crypto what So ever.Six months has been given to liquidate all assets.So no tax will be imposed but I think they are paving a way for their own coin.
As it stands right now no cryptocurrency activities what's ever are welcome in India as the central bank no longer recognise it or back it.That means you can't link any cryptocurrency transaction to Fiat currency then withdraw.India has broken the record after Cigna successfully achieved that.This is not an improvement. They will be restricting a lot of people from making gains in the future.
Does this mean they want to ban cryptocurrency trading in six months, or they will just start imposing taxes after six months
I have been reading about this tax on bitcoin by the government lately. This is one idea I do not like at all. This should be restrictive so that bitcoin can strive betterIt is rumoured that Indian government may issue 18% of GST tax on Bitcoin trading. Do, any other countries also impose tax on Bitcoin trading.
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