RE: For Now We're Lucky With Crypto-Taxes In India
It's unfortunate that any of our capital gains are taxed. There are multiple stories of people here in the USA who made a huge profit on crypto, and then they lost it when crypto crashed However, they still owe the taxes on the profit with no way to pay it. Isn't that insane? That's how ridiculous our IRS is here.
None of our income should be in my not so humble opinion. There are places like Costa Rica that have zero tax on capital gains no matter how they were made. Then there are places like Puerto Rico with the Act 20 and Act 22 new laws that can make your total tax rate only 4%!
Some places are definitely better than others, and I've been researching this specific issue for years to find the best place to relocate to or at least have as a backup option. What are you other taxes in India? How much do you get taxed on your regular job's income? How much is your total estimated taxes when you add everything up?
Here in the USA it is about half my income, and that's not including the worst tax of them all: inflation.
Thanks in advance for your reply, and it's good to see you again, @firepower!