New Indian Crypto Tax Regulations Are Affecting Innovation

2022.05.29 14:52

New Indian Crypto Tax Regulations Are Affecting Innovation

• The Indian government has made crypto subject to tax deductions.
• Last month, the Indian government started charging a 30% tax on all income from digital assets.
• These regulations are having an adverse impact on crypto trading.

Successful crypto trades have encouraged many Indian investors to invest even more of their money in digital assets. However, in the latest Union Budget, the Indian government has made crypto subject to tax deductions.

Last month, the Indian government started charging a 30% tax on all income from digital assets. The tax is charged on all gains from crypto assets, and it has been in effect since April 1.

In addition to this, the government decided that another 1% tax deduction will be implemented on July 1. This 1% will be charged on all crypto transactions and not just on the ones that generate profit.

The government is convi …

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