The Crypto Tax Debacle in INDIA

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In the past couple of days, I wrote about the Taxes that will be levied on the people of India when they Invest in Crypto and I have written two posts related to that So 30% It Is and The 1% TDS Issue are those posts and you can read them to get the just of it but after that, it seems a lot of Youtubers are getting a little too much hasty as they feel like 30% is a lot of Tax to be paid on Crypto Gains and I have to say that I agree but what they are not realizing is that this thing is up for debate.

The reason why the Government of India has kept the Tax Law Vague is that the Law or in this case the Tax bracket will be up for debate and rest assured a lot of Litigation will indeed be filed in this 1 year period we have. Crypto is something new to the Government and Taxing and Regulating this unknown Thing is hard for them as well so they have knowingly kept it VAGUE so that they could hear all opinions and on a later date this Tax Bracket may be reduced.

It is also not a certainty that the Tax Bracket will be reduced but we can expect a lot of discussions will be made from all parties and that includes Exchanges, Government as well as Individuals. So just keep calm for now and keep a lookout for any Petitions that are being filed against this Crypto Tax Bracket as I am pretty sure that there will be a lot of those flying around.