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The CryptoCurrency Thread


eddy4823
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1 hour ago, SuperT said:

Honestly if anything this is actually good news. All rumors of banning them/restricting them etc. put to rest. 

 

1 hour ago, KunjanPSD said:

Yup.

Taxation was the only way to legalise them.

True

When they get info via TDS and gains/losses, the government can slowly build up their database. Having legal recognition is a good 1st step, that tax rate is fine if the set-off was allowed. :eyebrow:

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2 minutes ago, LordSpymaster said:

Correct me if I'm wrong but the losses in crypto from 1 year aren't being allowed a set off next year too in the same category. I.e. You gain: pay tax, you lose: F*ck you and your losses.

Yes, govt basically said: Screw you, you crypto scum.

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2 minutes ago, LordSpymaster said:

 

True

When they get info via TDS and gains/losses, the government can slowly build up their database. Having legal recognition is a good 1st step, that tax rate is fine if the set-off was allowed. :eyebrow:

Yeah, TDS of 1% basically lets them track everything.

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Should have been 20%. 30 is too much but atleast no ban, thats great. 

Bought the dip for more HBAR, Algo, QNT, AAVE & DOT. Hbar i will buy regularly with every paycheck. 

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7 hours ago, SuperT said:

Honestly Indian platforms are a pain to use for crypto. They have UPI one day the next day UPI disappears. 

Vauld was pretty good but now UPI gone from there too. Same story with WazirX.

What is everyone using here and what hack are you guys using ? 

 

I didnt use any indian crypto trading app. But i have them on the phone

 i use binance,gate.io,and kucoin.

But i generally use them to just convert my real world money into blockchain world's digital money

I invested mostly through decentralised exchange.

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Taxation doesn't mean legalization, folks. Wait for the crypto bill for that. Crypto is still a grey area and no regulated entity (ergo, banks) will do crypto till the crypto bill is passed. 

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6 minutes ago, Shantz said:

Taxation doesn't mean legalization, folks. Wait for the crypto bill for that. Crypto is still a grey area and no regulated entity (ergo, banks) will do crypto till the crypto bill is passed. 

Even proceeds from a crime (eg. forgery, hitman contract, etc.) are taxable iirc.

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12 minutes ago, Mr. Comingle said:

Even proceeds from a crime (eg. forgery, hitman contract, etc.) are taxable iirc.

Yep! We used to laugh at those clauses.

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10 hours ago, Shantz said:

Taxation doesn't mean legalization, folks. Wait for the crypto bill for that. Crypto is still a grey area and no regulated entity (ergo, banks) will do crypto till the crypto bill is passed. 

 

Bloomberg got it wrong then ? Most big news sites have similar stories. 

 

 

 

 

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2 hours ago, Bird Bird Bird said:

 

Bloomberg got it wrong then ? Most big news sites have similar stories. 

 

 

 

 

Clarified by the ministry yesterday evening

 

https://m.timesofindia.com/business/india-business/cryptic-signs-tax-on-e-assets-opens-gateway-to-brave-new-virtual-world/articleshow/89284751.cms

 

They don't consider any crypto to be legal yet

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