Exchanges will push for tax reforms ahead of budget!

[Bitcoin Smith]

Just read this from an article posted on cointelegraph and it looks like Indian exchanges will likely to push the government to bring the necessary tax reforms like 1%TDS and 30% capital gains with no offset loss on the gains is pushing the existing users to go with the offshore exchanges that leads to revenue loss to the government and helping the economies of somewhere.

Any possibility that government even might consider the proposed changes?

[pawanjain]

Just read this from an article posted on cointelegraph and it looks like Indian exchanges will likely to push the government to bring the necessary tax reforms like 1%TDS and 30% capital gains with no offset loss on the gains is pushing the existing users to go with the offshore exchanges that leads to revenue loss to the government and helping the economies of somewhere.

Any possibility that government even might consider the proposed changes?

The government "should" consider modifying the taxation part on capital gains from crypto but likely won't do it any time soon.
As of now, they are least bothered about the user retention of Indian crypto exchanges.
The industry leaders and Indian crypto exchanges are demanding for lesser taxation and if the government hears them then we can see those updates in the upcoming Union budget in Feb 2026.

Lesser TDS like 0.01% of trade value along with taxation on capital gains like the stocks are our expectations.
The most important and challenging issue for us, setting off losses is the one that all of us desire.
Its highly unlikely that the government will accept all of these together but even if one of them are accepted then it will be considered as a positive sign.
If they don't accept any of them then it will be clear that the government doesn't want Indian citizens to be holding or trading crypto.

[Bitcoin Smith]

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If they don't accept any of them then it will be clear that the government doesn't want Indian citizens to be holding or trading crypto.

Not necessarily, it is probably due to the influence of RBI who is behind all these thing and mislead the leaders in every possible way to eradicate crypto users out of the country, still we got positive sign for the crypto in our country despite heavy restrictions so all we need is someone who is educated and understand the potential revenue to the government if they make it in the right taxation bracket.

[JSRAW]

Just read this from an article posted on cointelegraph and it looks like Indian exchanges will likely to push the government to bring the necessary tax reforms like 1%TDS and 30% capital gains with no offset loss on the gains is pushing the existing users to go with the offshore exchanges that leads to revenue loss to the government and helping the economies of somewhere.

Any possibility that government even might consider the proposed changes?

Exchange also advocated for 0.1% TDS to government when they brought this 1% tds rule but government wasn't in mood to entertain anything so hard to say. Flat 30% capital gain is ridiculous, even gov knows this but it only suggest that they're hawkish and just tolerating while making some money in taxes.

Dar ish baat ka hai ki inn logo ko kuch naya idea na mil jaye offshore users ko unnecessary harass karne ka.

[pawanjain]

~
If they don't accept any of them then it will be clear that the government doesn't want Indian citizens to be holding or trading crypto.

Not necessarily, it is probably due to the influence of RBI who is behind all these thing and mislead the leaders in every possible way to eradicate crypto users out of the country, still we got positive sign for the crypto in our country despite heavy restrictions so all we need is someone who is educated and understand the potential revenue to the government if they make it in the right taxation bracket.

Even if RBI has mislead the government, seeing the growth in crypto users in India and its positive demand the government should do something about it.
I mean they have their own minds right and so they should be considering what people actually want instead of following what the RBI wants.
Speaking of an educated politician I see Raghav Chadda making some interesting points in the parliament discussions.
Although I am not actively following politics but got to know his points which kind of relate to the common man. What do you think ?

[Bitcoin Smith]

~
If they don't accept any of them then it will be clear that the government doesn't want Indian citizens to be holding or trading crypto.

Not necessarily, it is probably due to the influence of RBI who is behind all these thing and mislead the leaders in every possible way to eradicate crypto users out of the country, still we got positive sign for the crypto in our country despite heavy restrictions so all we need is someone who is educated and understand the potential revenue to the government if they make it in the right taxation bracket.

Even if RBI has mislead the government, seeing the growth in crypto users in India and its positive demand the government should do something about it.
I mean they have their own minds right and so they should be considering what people actually want instead of following what the RBI wants.
Speaking of an educated politician I see Raghav Chadda making some interesting points in the parliament discussions.
Although I am not actively following politics but got to know his points which kind of relate to the common man. What do you think ?

I do believe that even few members who can make sense will make a huge difference and need someone who represent the crypto as well as need to understand how crypto works and also the geopolitcs. But with the current minisry I don't think we are moving anything better but making small changes like allowing the loss to claim will be helpful.

[TheUltraElite]

Exchanges in India themselves are already poor from a lot of factors and dont seem to have that much power at the moment to raise a voice.

If they are pushing for tax reforms, the government will not listen, because the governments sole earning is through taxation maximally and that is one thing they will never reduce, only increase.

But what I feel will eventually happen is that crypto users in India will start protesting or Western countries will pose something of a middle ground to make sure crypto users there are appeased and that will get followed here as well.

[vivekdhyani1]

There is no way Goverment is reducing taxes atleast not untill they think doing something postive for crypto users brings them votes ...for them crypto users are same like stocks investors & their beloved shosit - Vanchit class doesn't indulge in both of these things so no point of doing anything good.

Nirmala tai nhi manegi  !! 

[pawanjain]

There is no way Goverment is reducing taxes atleast not untill they think doing something postive for crypto users brings them votes ...for them crypto users are same like stocks investors & their beloved shosit - Vanchit class doesn't indulge in both of these things so no point of doing anything good.

Nirmala tai nhi manegi  !! 

Who knows until when Nirmala exists. Everything has an end and so will the high taxation on crypto income. Its just about time.
I personally think India will follow the lead of other countries in this regard and as many other countries start accepting crypto India will follow the same.
Recently I heard that Thailand has officially implemented 0 tax on capital gains from crypto. Now that is something we really wished we had.