Reduce the 30% tax on crypto profit

The Issue

During the recent budget made by the union government of India, it was ordered that, from April 2022, whatever profit made using crypto currency will have 30% of tax on it.

For example, if you buy coins worth 10000 INR in crypto, and you sell when it reaches 15000 INR. So the profit you earned is actually 5000 INR where 30% of the amount will be 1500 INR. So that you will get only 3500 INR for yourself.

Taxing is fine but incurring such huge percentage on tax is unbearable since most of the crypto traders are middle class people who are trying to earn additionally to support their life. This kind of order will burden huge section of the public. 

Kindly sign this petition to save middle class people

avatar of the starter
Ara JanPetition Starter

47

The Issue

During the recent budget made by the union government of India, it was ordered that, from April 2022, whatever profit made using crypto currency will have 30% of tax on it.

For example, if you buy coins worth 10000 INR in crypto, and you sell when it reaches 15000 INR. So the profit you earned is actually 5000 INR where 30% of the amount will be 1500 INR. So that you will get only 3500 INR for yourself.

Taxing is fine but incurring such huge percentage on tax is unbearable since most of the crypto traders are middle class people who are trying to earn additionally to support their life. This kind of order will burden huge section of the public. 

Kindly sign this petition to save middle class people

avatar of the starter
Ara JanPetition Starter
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47


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Petition created on 7 March 2022