Ovember 7 Ani Newsvoir Crypto Trading In India Reached Grassroots Despite Many Headwinds From The Uncertainty Accepting Currency News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Hyderabad (Telangana) [India], November 7 (ANI/NewsVoir): Crypto trading in India reached grassroots despite many headwinds from the uncertainty in accepting the currency, government legislations, and tax initiatives. It is estimated that around 1.8 Crore Indian accounts created in India have traded few rupees to few lakhs per year. Today, India with only 1.6 per cent of the population paying more than Re.1 of tax, and only 4.7 per cent of the population filing their taxes is extremely low for it's stature as the 5th largest economy in the world when compared with the OECD nations. Starting from 1st Apr 2022, India imposes 30 per cent tax on Virtual Digital Currency (VDA, Crypto is one of the VDA) income without setting off losses from any other income, also 1 per cent TDS on every transaction above Rs 10,000 value. In addition, higher complexity in TDS filing for resident Indian trading on a foreign exchange/broker. Now, having Crypto taxes starts from FY 2022-23, its interpretati ....

Suneel Dasari , Eztax Crypto Help Center , Expert Services , Virtual Digital Currency , Crypto Tax , Filing Taxes , Taxtech Start Up , Income Tax , Crypto Help Center , Hyderabad Telangana India , Ovember 7 Ani Newsvoir Crypto Trading In India Reached Grassroots Despite Many Headwinds From The Uncertainty Accepting Currency , Government Legislations , Nd Tax Initiatives It Is Estimated That Around 1 8 Crore Indian Accounts Created In India Have Traded Few Rupees To Lakhs Per Year Today , Ndia With Only 1 6 Per Cent Of The Population Paying More Than Re Tax , Nd Only 4 7 Per Cent Of The Population Filing Their Taxes Is Extremely Low For It 39s Stature As 5th Largest Economy In World When Compared With Oecd Nations Starting From 1st Apr 2022 , Ndia Imposes 30 Per Cent Tax On Virtual Digital Currency Vda , Rypto Is One Of The Vda Income Without Setting Off Losses From Any Other , Lso 1 Per Cent Tds On Every Transaction Above Rs 10 , 000 Value In Addition , Igher Complexity In Tds Filing For Resident Indian Trading Ona Foreign Exchange Broker Now , Aving Crypto Taxes Starts From Fy 2022 23 , Ts Interpretation Would Make The Income Tax Filing More Complicated Than Ever India 39s Leading Tech Portal Eztax In Today Unveils It Latest Crypto Automation Software Helping Indian Taxpayers To Assist Taxes , O Understand The Exposure Through Crypto Tax Calculators , Nd To Get Guidance Froma Dedicated Crypto Help Center Quot Very Few Solutions In The Market Covering Tax Area Are Accessible India Most Players Foreign Entities Trying Indian Taxpayers But Such Only Focus On Partial Interpretation And Calculation Of Hence Missing Bigger Piecea Comprehensive Free Income Filing , Aid Suneel Dasari , Ounder And Ceo At Eztax In Suneel Said ,