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RE: SEC-S18W1 | Celebration of Global Pizza Day 🍕| My Pizza My Choice |
I pay more than 32% on my additional income but in India, all crypto transactions are taxable even if a person has no other income of not even in tax slab. That's one of the reasons too few Indians join crypto related sites or find a way to avoid tax. Thanks, for rvrything.
Does it mean the tax burden is on crypto users such as investors and traders or just crypto exchanges?
Every transaction by individuals any amount coming from exchanges to bank or any other wallet (which is banned for now), they deduct it from source and send the proceeds to government with no refund to user whatsoever.