Mudrex survey reveals overwhelming call for crypto tax reforms ahead of Union Budget 2025
Union Budget 2025 approaches, a recent survey by Mudrex, a platform for crypto investments, shows that most Indian crypto investors want changes in the tax system. The findings indicate a strong demand for tax revisions, with the majority of participants advocating for lower rates and more flexibility in the taxation system for cryptocurrency investments.
Survey Highlights:
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The survey found that the most discouraging aspect of crypto trading for Indian investors is the 30% tax on gains. A significant 67.5% of respondents cited this as their primary concern. In contrast, only 7.14% mentioned the 1% TDS on transactions as a discouraging factor, while 5.19% pointed to high fees collected by exchanges.
Majority support a tax reduction
When asked if the current tax structure, which includes a 30% tax on crypto gains and a 1% TDS on transactions, should be revised in the upcoming budget, 85% of respondents agreed that it needs to be reduced. Only 7.14% felt that the existing tax regime was acceptable, while 7.79% were unsure about the matter.
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such
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