Legalize and Legislate Simple Tax Code for Cryptocurrency Holders
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Now there is no recognition from Govt of India that crypto is a currency and hence there are no guidelines on tax code. This puts people in challenging situation even when individuals want to be compliant with tax law.
As Cryptocurrencies offers various benefits for individuals in terms of global investment opportunities and very good returns on investments, I request Govt of India to legalize the trading and owning cryptocurrencies.
And I also Call upon both the houses of Parliament to formulate simple tax code on Cryptocurrency trading such that the individuals are only taxed when crypto is converted into Fiat currency.
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