Thread by @CA_HarshilSHETH

Crypto पर Tax

This is how they must have come up with idea of Taxing Crypto profits

#cryptocurrency
#Cryptoindia
#budget2022
#incometax

Junior - sir we must tax Crypto. But how?

Sir - must tax at higher rate. People are getting so much profits

Junior - but how? It's not even leagalize yet?

Sir - वो सब मे नही जानता. Think Something

Junior - sir can we include Crypto as "capital asset"?

Sir - नहीं. उसमे काफी Amendment करने पड़ेंगे capital Gain मे . Set off /carried forward मे भी Amendments करने पड़ेंगे. ITR schema भी काफी बदलना पड़ेगा. Let's not trouble more Infy

Junior - तो sir कैसे Tax करे?

Sir - let's put it into Special Rate of Income in IFOS.. Straight way tax 30% on Gains.. No tention of Set off /carried forward..

Junior - sir great idea

PS - Putting into Special Rate of Income,
they will get straightly 30%

additionally
आनेवाला समय जब Crypto की price मे ज्यादा Increase decrease नहीं होगी और जब लोगों के पास Losses होंगे तब भी Govt को फायदा ही फायदा

Bcz they are
Not allowing Losses to set off against other sources
Not allowing C/f

Govt has secured themselves
With these tricks