This is too high, damn! They are really trying so hard to discourage people from getting involved in owning crypto assets with such ridiculous high-income tax, I guess it is up to the citizens to decide if they are willing to accept regardless of the high tax imposed by the government, whether big or small investors will feel the same impact of 30%, and the moment people are okay with this I don't see it changing, 10 - 15% would have been reasonable.
Well, if Indian People don't like it they wont pay 30% income tax because they will see that regulation is ridiculous. We should be grateful if we lived in a country that still didn't take any tax from crypto income and instead they make it legal for transactions and commodities. I bet many people are okay with that regulation because they didnt pay that tax
30% income tax is too high for us, probably Indian investor will not be satisfied with such a tax. But the legitimacy and taxation of crypto will always go hand in hand. I believe that taxation is a must for every citizen because this will help the national economy develop and be more sustainable.
When you have a dispute or involve crypto scam, the government will be the one to help you out so paying taxes is an obligation.
