An Indian parliament member has requested that the government imposes more than 30% tax on crypto income. cryptocurrency bitcoin $BTC
India’s Finance Bill 2022 containing the proposed 30% tax on crypto income is now being considered in Rajya Sabha, the upper house of India’s parliament.
I would like to request the finance minister that the 30% tax that you have imposed on crypto, please consider in the coming days if this tax can be further increased. He added that while stocks are backed by companies behind them, “crypto is gambling.” He further questioned, “Who are behind crypto?”is only levied on crypto service providers, such as exchanges, emphasizing that this needs to be increased. Modi opined:
“Investors are attracted by extraordinary profits,” Modi stressed, adding that “no one knows what is the value of crypto.”
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