With 100 Million Crypto Users, Indian Exchanges Say It’s Time to Fix the Tax Laws
- Ritesh Pandey (former Member of Parliament in India) is advocating for tax relief (30% tax cut, 1% TDS removal) and clearer regulations
- He points out that the crypto sector is being held back by heavy tax burdens and unclear regulations
- India hosts over 100 million crypto users (around 7% of the adult population), and is projected to become a $15 billion market by 2035
Ritesh Pandey (former Member of Parliament in India) is once again advocating for Indian crypto users, pushing to cut the 30% crypto tax, remove the 1% TDS (Tax Deducted at Source), and implement clear and fair regulations.
Pandey argues that crypto is a “yuva asset class,” appealing to India’s young talent and innovators. He points out, however, that the sector is being held back by heavy tax burdens and unclear rules.
While his call resonates loudly on social media, no official moves by the Indian government to amend tax rates have been announced.
In its pursuit of tighter control, several months ago, the Indian government, through Budget 2025, rolled out mandatory reporting for cryptocurrency transactions under Section 285BAA, specifically aimed at improving tax compliance.
India’…
The post With 100 Million Crypto Users, Indian Exchanges Say It’s Time to Fix the Tax Laws appeared first on Coin Edition.
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With 100 Million Crypto Users, Indian Exchanges Say It’s Time to Fix the Tax Laws
- Ritesh Pandey (former Member of Parliament in India) is advocating for tax relief (30% tax cut, 1% TDS removal) and clearer regulations
- He points out that the crypto sector is being held back by heavy tax burdens and unclear regulations
- India hosts over 100 million crypto users (around 7% of the adult population), and is projected to become a $15 billion market by 2035
Ritesh Pandey (former Member of Parliament in India) is once again advocating for Indian crypto users, pushing to cut the 30% crypto tax, remove the 1% TDS (Tax Deducted at Source), and implement clear and fair regulations.
Pandey argues that crypto is a “yuva asset class,” appealing to India’s young talent and innovators. He points out, however, that the sector is being held back by heavy tax burdens and unclear rules.
While his call resonates loudly on social media, no official moves by the Indian government to amend tax rates have been announced.
In its pursuit of tighter control, several months ago, the Indian government, through Budget 2025, rolled out mandatory reporting for cryptocurrency transactions under Section 285BAA, specifically aimed at improving tax compliance.
India’…
The post With 100 Million Crypto Users, Indian Exchanges Say It’s Time to Fix the Tax Laws appeared first on Coin Edition.
Читать больше