At present we all know that in India, up to 30% of one's income is spent on crypto. And it has affected every Indian who works in the crypto industry. If you can guide further on how to go further now. Give some suggestion.
The title says 30% tax, and I wanted to say it's unreasonable and too high, but then you write that it's "up to 30%", leading me to assume that the tax depends on the income, which is a very different story. Then I tried googling it, and
it seems that the 30% tax rate is flat, not progressive. If that's indeed the case, meaning that no matter how little you earn, you still need to pay 30%, it's truly unreasonable, and I'm sorry for that. Then I'd investigate the prosecution for people who don't pay it: what's the worst that can happen, and how often anything happens in practice? It really depends on how common it is to not pay taxes, especially if you don't earn that much (very common in my country), and then you have to make a personal decision. I'd think in the following manner:
- if you don't earn much on cryptos and the worst that can happen is a fine which you'd be able to pay, I'd just not pay taxes
- if you don't earn much of cryptos, but the punishment for tax evasion is very significant, I'd stop earning with cryptos
- if you earn significant amounts of money in cryptos, maybe paying a 30% tax is okay, so that there're better roads, healthcare, education for people in your country
- if you earn significant amounts of money in cryptos, but are not willing to pay 30%, why not either relocate to another country or register your business activity in another country which has friendlier crypto policies?
In any case, op, good luck!