In India the tax is one of the biggest concern and probability India for Crypto community because currently it is 30%. This percent is very high and because of this all of people are not able to start their journey with crypt to because the feel like 30% is to big amount with them might not able to earn and seems there is no loss adjustment so this can be such a big problem for them.
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The country is going to have the budget for another year which is presented in the month of Feb and some exchanges are expecting that in this budget the government will be looking into this part. If this happens then it's good because expectations are mostly for the Crypto community to give a boost by reducing the tax percentage. Basically the Crypto community is expecting their taxation should be according to the slab at least and not just a flat on any amount because this is not possible for everyone to earn that much.
Taxpayers, Investors and Businesses are actively waiting for any new reforms to it, And as the Indian government is currently inviting citizens to share their ideas for the Union Budget 2025-2026. He has asked the X’s users who are Crypto enthusiasts to help the ecosystem by requesting better taxation and policies surrounding Web3.
Tax reforms in the country is a need to take the Crypto and web 3 industry forward especially this time when the adoption is pretty much high in the country despite the fact that taxation is a problem but still a lot of people are getting on boarded which is a good sign. Just imagine how things will be if the tax reform happens because this will encourage more people to be part of crypto as well as it will be affordable for them.
Obviously it is just an expectation is of now and we don't know how is it going to be in the budget or post that but because one of the exchange founder had shared that he and his team has been in touch with the leaders so most probably it is anticipated to have some tax reforms in the country. Altho we just can't expect that this is going to be exactly however healthy tax mechanism is certainly required in the country not just for the Crypto but also in the other industries as people often talk about tax as terrorism in India.
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