Pushpendra Singh: Crypto taxation measures in India viewed as overly harsh

Pushpendra Singh: Crypto taxation measures in India viewed as overly harsh
Crypto taxation viewed as harsh in India

Pushpendra Singh, crypto educator and blockchain enthusiast, raises concerns regarding India's current crypto tax framework. Singh highlights issues such as the 1% TDS, a 30% tax on gains, a ban on loss set-offs, and lack of banking support, calling this the most challenging crypto tax regime to date.

He appeals to Indian authorities to reconsider and reduce the high taxation on cryptocurrencies.

Singh has previously commented on Indian markets, recently highlighting a survey where India ranked as Asia’s least preferred stock market behind Indonesia. In a separate article, he explained a government scheme that allows small taxpayers to disclose foreign assets and crypto holdings with a 60% tax payment, thereby avoiding penalties under new disclosure rules. His ongoing commentary reflects continued scrutiny of India's evolving policies affecting both traditional and digital assets.

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