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Author Topic: #reducecryptotax is trending in India.  (Read 153 times)
pakhitheboss (OP)
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February 17, 2022, 06:55:40 AM
 #1

Crypto influencers and the Indian crypto community have raised their voice against the recently proposed 30% tax on crypto earnings. The hastag #reducecryptotax is trending on Twitter India as of today.  They have also started a signature campaign simultaneously which is proposed to be forwarded to the PM

I request active members on this board to sign the below form and also tweet their concern regarding the hefty tax on crypto earnings with the same hastag. Here is the link to the petition - https://www.change.org/p/cryptotax-nsitharaman-introduce-reasonable-crypto-tax-policies?recruiter=701131202&utm_source=share_petition&utm_medium=twitter&utm_campaign=psf_combo_share_initial&recruited_by_id=fc18a5e0-12af-11e7-9bce-bff54d65de6d

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February 18, 2022, 01:21:04 PM
 #2

I will sign that petition without fail. But did change .org was able to change anything at all over the last couple of years? Crypto is much more sensitive than it is being shown by the government.

Especially when RBI is strongly pushing back and asking government to ban cryptocurrency from India. Even today the Dy. Governor of RBI spoke up against cryptocurrency.

The hashtag trending is a good thing but the Finance Ministry is under huge pressure to ban cryptos from the banking lobby. Let's hope the finance Ministry will stick to its decision of not banning cryptocurrency.

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February 18, 2022, 06:09:33 PM
 #3

Crypto influencers and the Indian crypto community have raised their voice against the recently proposed 30% tax on crypto earnings. The hastag #reducecryptotax is trending on Twitter India as of today.  They have also started a signature campaign simultaneously which is proposed to be forwarded to the PM

I request active members on this board to sign the below form and also tweet their concern regarding the hefty tax on crypto earnings with the same hastag. Here is the link to the petition - https://www.change.org/p/cryptotax-nsitharaman-introduce-reasonable-crypto-tax-policies?recruiter=701131202&utm_source=share_petition&utm_medium=twitter&utm_campaign=psf_combo_share_initial&recruited_by_id=fc18a5e0-12af-11e7-9bce-bff54d65de6d
This is a good initiative that crypto influencers have taken up to aware people that they are actually being robbed with this 30% tax rate in place. Even though I have signed the petition myself but I generally don't feel these petitions and things are useful when it comes to government decisions, our government didn't hear pleas of farmers for more than 15 months even when they were sitting on the roads blocking tolls and dying every day. After that much time also laws were repealed primarily only because of upcoming elections. These sort of petitions they wouldn't even give heed about which is pretty sad. They make laws based on what suits their overall agenda and thats it.
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February 19, 2022, 09:44:01 AM
 #4

I will sign that petition without fail. But did change .org was able to change anything at all over the last couple of years? Crypto is much more sensitive than it is being shown by the government.

Especially when RBI is strongly pushing back and asking government to ban cryptocurrency from India. Even today the Dy. Governor of RBI spoke up against cryptocurrency.

The hashtag trending is a good thing but the Finance Ministry is under huge pressure to ban cryptos from the banking lobby. Let's hope the finance Ministry will stick to its decision of not banning cryptocurrency.

28k AVG shipping yard scam is the biggest dent to many banks reputation. I doubt the lobby would be able to do something now. I shared this initiative here so that everyone who has been quite active on this board support the cause. Regardless of the outcome we can all give it a try as it is for our own benefit.

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February 19, 2022, 11:04:20 AM
Last edit: February 19, 2022, 12:29:33 PM by JSRAW
 #5

Already did my bit when it came out early, not expecting much but might build our narrative on this 30% tax drama.

our government didn't hear pleas of farmers for more than 15 months even when they were sitting on the roads blocking tolls and dying every day. After that much time also laws were repealed primarily only because of upcoming elections. These sort of petitions they wouldn't even give heed about which is pretty sad. They make laws based on what suits their overall agenda and thats it.
How dare this fascist government tried to open up farming sector in India, which was completely left out during the economic liberalisation.

Crypto community should also block the highways and make the local resident's life hell for year or so but gov still won't hear us because majority of our community belongs to a category who happily pay taxes for their own exploitations.


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February 19, 2022, 05:21:09 PM
 #6

Already did my bit when it came out early, not expecting much but might build our narrative on this 30% tax drama.

our government didn't hear pleas of farmers for more than 15 months even when they were sitting on the roads blocking tolls and dying every day. After that much time also laws were repealed primarily only because of upcoming elections. These sort of petitions they wouldn't even give heed about which is pretty sad. They make laws based on what suits their overall agenda and thats it.
How dare this fascist government tried to open up farming sector in India, which was completely left out during the economic liberalisation.

Crypto community should also block the highways and make the local resident's life hell for year or so but gov still won't hear us because majority of our community belongs to a category who happily pay taxes for their own exploitations.


30% Tax isn't going to go I am very sure about this at least for a couple of years until government ensures traceability of crypto transactions. I am more concerned about the 1% TDS on sale proceeds which is utter foolishness and secondly no set off for losses in trade which too is stupidity. Even if these two things go away 30% tax is still bearable to some extent.

Talking about farms laws, pros and cons of any law go hand in hand but obviously if the community which will be effected the most by it isn't inviting the law why do you want to impose it on them? Talking about blocking, the best IT community of India could do is block a few government webpages  Grin Highways are a tough task man. Even that might help  Grin
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February 20, 2022, 07:48:47 AM
 #7

Quote
Crypto community should also block the highways and make the local resident's life hell for year or so but gov still won't hear us because majority of our community belongs to a category who happily pay taxes for their own exploitations.

The government always want to squeeze the middle class. You are right majority of us belong to the middle class hoping to to reach the upper class but as usual the government would not allow it and would always find a way to milk this cow.

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February 21, 2022, 04:34:14 PM
 #8

Yes its trending everywhere especially on twitter,YouTube ad reddit.
I saw some youtuber were asking there subscriber to retweet and use these hashtag.
I think Government should talk with Senior Crypto users in India and adopt best strategy for this. It will be great if they start voting for this.









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March 10, 2022, 08:09:57 AM
 #9

Yes its trending everywhere especially on twitter,YouTube ad reddit.
I saw some youtuber were asking there subscriber to retweet and use these hashtag.
I think Government should talk with Senior Crypto users in India and adopt best strategy for this. It will be great if they start voting for this.

Yah indian government should think about trader if tax rate is not reduced then most of the old crypto user will loose interest in trading also new upcoming crypto trader will not even think about the crypto way for income!! I also think about that if indian tax rate is too high then we will destroy cz we are neighbour of india our Government also will follow indian government and it will more higher than indian i think it will 100% 😆😆

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March 11, 2022, 03:10:39 AM
 #10

I will sign that petition without fail. But did change .org was able to change anything at all over the last couple of years?

Change.org doesn't do shit, if one wants to farm so called signatures, he can literally bot it as there are measly preventive measures.

"(Change) is a multimillion dollar for-profit private company, not a nonprofit public charity as many falsely assume. The company began as a nonprofit that connected charities to donors, but has transitioned into a for-profit company that makes money by selling advertised petitions on its website, Change.org."

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mamunsk987
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March 11, 2022, 01:33:46 PM
 #11

I need  lerning for crypto currency  trading
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