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]
It's true,even I had get through of such news.India had a first position in bitcoin and crypto holders.This made a huge impact over the cryto currency flow for now.Till now the application was not happened.So people start to sell for now.
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?
The holding of crypto surely U.S people.The legalization of the bitcoin in India made a huge impact among the traders and it's reason for the new low value.