Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it
lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words But the Q is can he practically control or ban it
you nailed it ,
they are only thinking how to get more n more taxes . but still it is ok if they charge 20-30% tax on these .
but as per some news it might be 40-45% so that will be really ridiculous .
actually currently govt focusing to impose and collect more and more taxes ..because indian economy is near to crash because of demonitisation etc. and if btc is taxable then govt get a huge amount of taxes .. because after 10 lakh the taxes will increases as hell .. (upto 40-50%) and most of btc investors have invested more than this amount
From where do you guys get those figures of 40-50%, if implemented this would be really disgusting to see so much of higher tax and indirectly forcing people to stop investing in cryptocurrency.