Yesterday i.e. 1st February 2022 India announced its budget, and in the session, it stated that crypto transactions will be taxed at the rate of 30%. There is very less to be sure of what is the impact of the following decision[ +ve or -ve]
I see that taxing cryptos has one good pro here i.e. it can be said that cryptocurrency is legal in India or maybe?
There are several cons as 30% is a big share.
Is there any possible way to legally avoid the taxations?
30% is such a huge amount that you won't send any Satoshis. What about the avoiding taxations, I don't think that it worth to break the law for this. you may try to understand how will this mechanism work and find other legal ways and white holes to reduce the cost of using cryptocrurrencies.