Post
Topic
Board Bitcoin Discussion
Re: 30% tax on crypto income in INDIA
by
carlfebz2
on 05/04/2022, 19:47:13 UTC
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.
if that should happen in what way government who is calculating the percentage of individual cryptocurrency, is any detecting machine or device that monitors each wallet of investor, 30% of income, if that should be happen, is for the working class or any citizens, i will slightly believe or agree with you, i think something's is missing somewhere else
Most likely they would touched up centralized platforms basing up on calculation on someones who had been dealing with active fiat conversions which would really be that possible through these platforms.

If you do ask for some possible sources then i cant think off any possible ways yet detection specifically with these transaction is impossible.Try to look on other taxation thing just like in US
where everything cant really be filtered out perfectly due to decentralized aspect and anonymity of crypto which make things more harder.