Mumbai: With the next financial year budget getting close to the budget, a survey conducted by a platform for Crypto investment found that Indian crypto players are looking for a change in tax system on cryptocurrency trading, most of which most of which in tax rates Shortage is expected. Apart from this, there has also been a demand to impose tax on crypto trading similar to equity trading.
Most of the survey participants made a strong demand for tax cuts and insisted on making the tax system more flexible for crypto investment.
One of the biggest disappointments is a high tax rate of 30 percent on profits from crypto trading. 67 percent of the people involved in the survey described high tax rates as major concern.
The survey report said that 85 percent of the people expressed the opinion that 30 percent tax on profits in the budget and 1 percent of TDS on transactions should be reduced.
Among the survey participants, 44 percent supported the tax rate between 0 to 10 percent on the profits from crypto trading, while 32.50 percent said they would have no objection at a tax rate of 10 to 20 percent. 17 percent of the people said that they would not tax.
The report further states that 66 percent of the people have expressed their desire to impose tax on crypto investment in the same way that equity trading is taxed on a short -term and long -term basis.
