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Title: Higher Taxes on Financial Markets? Post by: polynesia on December 25, 2016, 03:54:36 AM If you thought your tax incidence was going to come down after demonetization, you are wrong.
The PM is hinting at higher taxes on financial markets. No stone is being left unturned to ensure the success of Bitcoin. :P http://www.business-standard.com/article/markets/pm-modi-hints-higher-taxes-on-capital-markets-116122400465_1.html http://economictimes.indiatimes.com/news/economy/policy/pm-narendra-modi-favours-higher-taxes-from-market-participants/articleshow/56155699.cms Title: Re: Higher Taxes on Financial Markets? Post by: Clement Kaliyar on December 26, 2016, 08:53:03 PM It is really good for the bitcoin community and if they are going to impose more rules and regulation more people will be aware of the existence of bitcoin and it will indeed boost the community in a good way for sure and i am sure the price will rise again if government starts increasing the tax.
Title: Re: Higher Taxes on Financial Markets? Post by: nizamcc on December 28, 2016, 08:05:35 PM It is really good for the bitcoin community and if they are going to impose more rules and regulation more people will be aware of the existence of bitcoin and it will indeed boost the community in a good way for sure and i am sure the price will rise again if government starts increasing the tax. PM's virtue is good, but no wonder if he ever comes in the way of Bitcoins, I think government will possibly ban it being used here rather than giving acceptance to it because if such thing gets accepted, they will be data-less as to who is sending how much to whom and what is being transacted by Indians alone. Title: Re: Higher Taxes on Financial Markets? Post by: bitstartupguy on December 29, 2016, 08:12:27 AM Is this increase in tax applicable even to long-term retail investors?
If yes, then that's a very bad move. It'll discourage retail investors. Title: Re: Higher Taxes on Financial Markets? Post by: nizamcc on December 29, 2016, 07:47:19 PM Is this increase in tax applicable even to long-term retail investors? If yes, then that's a very bad move. It'll discourage retail investors. When you have something in view for a family and that too for their good, you will take small decisions, but being a PM of a country, I think his decisions are fair enough to justify what he has in his mind taking into consideration country's good, when taking such hard decisions that can possibly even ruin the whole economy. Hope he knows what he's doing so far. Title: Re: Higher Taxes on Financial Markets? Post by: polynesia on January 01, 2017, 07:35:28 AM Is this increase in tax applicable even to long-term retail investors? If yes, then that's a very bad move. It'll discourage retail investors. When you have something in view for a family and that too for their good, you will take small decisions, but being a PM of a country, I think his decisions are fair enough to justify what he has in his mind taking into consideration country's good, when taking such hard decisions that can possibly even ruin the whole economy. Hope he knows what he's doing so far. Politicians take decisions keeping in mind their public image and their votebanks. Investments in equities are made from tax-paid income. They are also subject to STT (Securities Transaction Tax). Our equity market is in a fledgling state and needs to be nurtured. These are the reasons why long-term capital gains in equities are not subject to capital gains tax. Title: Re: Higher Taxes on Financial Markets? Post by: bitcoinisbest on January 02, 2017, 03:00:42 PM It is really good for the bitcoin community and if they are going to impose more rules and regulation more people will be aware of the existence of bitcoin and it will indeed boost the community in a good way for sure and i am sure the price will rise again if government starts increasing the tax. PM's virtue is good, but no wonder if he ever comes in the way of Bitcoins, I think government will possibly ban it being used here rather than giving acceptance to it because if such thing gets accepted, they will be data-less as to who is sending how much to whom and what is being transacted by Indians alone. That's right if bitcoin cannot be regularized by govt, they would not like to have something where people start misusing this and create a new form of issue for them. So either they will like to get regularize and bring it under their policy or else the other option. |