Hello, beautiful people lucky ali again and you know The trend of crypto is increasing rapidly and this field is growing because it is the future and we have to accept it. Be it Dodgecoin or bitcoin currency. Many people around the world have now started investing in this segment, but in a country like india, you have to pay the highest tax on earning profit or even loss from crypto.
30% tax is levied on it If you earn profit from crypto. Not only this but, 1% TDS too i.e. Tax Deducted at Source is levied when cryptocurrency transactions occur. one more thing, If you make a transaction of more than Rs 50k in a financial year, then TDS will be deducted. This rule has been activated from July 1, 2022.
Expectations related to cryptocurrency in Budget 2025
The Indian Express which is a popular news firm has said that after the continuous rise in the prices of bitcoin cryptocurrency and the order of Donald Trump (president of the United States) to form a crypto working group, the Indian digital asset industry says that it is booming and the india should be at the forefront in this otherwise the country will stay behind in technology. It is expected that a better framework as well as the right structure will be presented in the upcoming budget of the year.
you should Know what is the field expert's opinion on the crypto segment According to Founder and MD of Zuvomo whose name is Nikhil, "Budget 2025 is a crucial moment for a country like India to regain its leadership in the global technology ecosystem. interesting thing is India ranks #1 in the number of cryptocurrency holders not only this but #3 in tech unicorns globally.
Yet, it seems we have missed the Web 3.0 tsunami, doubling its market capitalization in the golden year like 2024 and seeing a 2000% year-on-year increase in DeFi TVL. Regressive tax regime and Ambiguity in cryptocurrency compliance have hindered new ideas, leading to startups and the most important issue is talent moving abroad."
Cryptocurrency cannot be banned, and that's the truth
Nikhil also added, “Reserve Bank of India’s stance reflects a lack of understanding of the intrinsic nature of de-criteria – cryptocurrency cannot be banned, and that's the truth, only regulated. Meanwhile, countries like the United States, Russia, Singapore, South Korea, and the United arab emirates are adopting progressive policies to promote the cryptocurrency new idea and we are seeing many events happening in these countries. The approval of Ethereum and Bitcoin ETFs in the U.S. in 2024 underscores the importance of visionary regulations.”
In a country with thousands of tech startups, globally leading talent, and a strong ecosystem, the cryptocurrency industry expects balanced taxation which is affordable for all, innovation-friendly policies and clear compliance frameworks. The RBI must mitigate risks without stifling growth and also Finance Ministry. Everyone should understand that A progressive approach will unlock massive economic potential in this segment, create jobs, and strengthen the country’s position as a global leader in the crypto segment and Web 3.0 innovation.”
So hope you liked this information do share and comment below. have a good day ahead and I will meet you in my next crypto blog.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and getting new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring, Thank you hive family ♥ |
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