What we want from our goverment ✅ Create Tax Slab System ✅ Remove TDS (it will reduce user capital) ✅ Loss should be carry forward just like stock market. #reducecryptotax #reducecryptotaxDay38

30% Flat crypto tax will impact investors who fall under the lower tax bracket. 1% TDS will kill crypto trading/exchange liquidity thus resulting in lower GST collection. No deductions will kill Crypto Mining. GOI should reconsider new crypto tax policy. #reducecryptotaxDay39

1% as TDS will slowly consume user principal amount and move it to government temporary accounts. This will reduce user profit and at the end government have to return this TDS. TDS should be removed #reducecryptotax #ReduceCryptoTaxDay42

New crypto tax policy is unreasonable & should be changed. Only a few days remain before it becomes applicable. #reducecryptotax #reducecryptotaxDay44

30% flat tax and 1% TDS on the underlying tech of #web3 and #Metaverse is not fair. Crypto is not gambling Crypto is the future 🔥 #reducecryptotaxDay44 #reducecryptotax

30% flat tax and 1% TDS on the underlying tech of #web3 is not fair. Crypto is not gambling Crypto is the future 🔥 Crypto is the power Web3 is future technology #reducecryptotax

Only a few days remain before the new unreasonable crypto tax policy becomes applicable. #reducecryptotax46

30% flat tax and 1% TDS on the underlying tech of #web3 is not fair. Crypto is not gambling Crypto is the future 🔥 Crypto is the power Web3 is future technology PMO India #reducecryptotax

India will be leader in #Metaverse and #web3. India will play a vital role in regulating technology. #Blockchain Government should not put 30% tax. PMO India please support Blockchain technology #reducecryptotax

1% TDS will kill trading but no deduction rule is equally important & must be looked at - as it will kill the Mining industry in India. #ReduceCryptoTaxDay47

Proposed tax provisions can kill the crypto industry in India - Sumit Gupta (CoinDCX) - CoinDCX : India Ka Crypto Coach founder

DAY 50 - Finance bill 2022 with proposed crypto tax rules will be discussed & probably will be passed in the Lok Sabha today. Hope GOI brings in amendments as proposed crypto tax rules if not changed will impact the growth of the crypto industry in India. #reducecryptotax

Tried to calculate how no setoff loss between different types of crypto pairs will look like. Also, we don't know if trade loss setoff is even allowed in the same pair or not - logically, it should but cant say for sure. *Fixed some errors. Hope this is final one.

If you are in profit of $1000 (any amount) by trading, but your crypto wallet/exchange got hacked? - You have to pay 30% tax If you have sent some crypto on wrong address - You have to pay 30% tax

Day 55 - We hope GOI reconsiders its decision to tax crypto similar to the betting & gambling industry. This mistake will haunt us in the future. #reducecryptotax

Thanks for your continue support.

Day 60 - Nations around the world are competing to become technological leaders in Crypto but it's sad to see that in India, Crypto Industry is being treated at the same footing as those of the betting and gambling industry. #reducecryptotax

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