India passed a harsh crypto tax law on Friday. The law was passed despite strong pushback from the domestic crypto industry which is now scrambling to figure out its future in the country. By amitoj
Parliament House in New Delhi, India
More than 20 members of the lower house of parliament reacted strongly to the bill, calling out the lack of clarity in defining crypto in the bill, with several MPs saying that the crypto taxes will"finish the industry." “This is not conducive for the government or the crypto ecosystem of India, it is poised to do more harm than good," said Nischal Shetty, one of the most prominent crypto voices in India and co-founder and CEO of WazirX, one of India’s largest crypto exchanges.
“This will have some repercussions on traders, especially the 1% TDS assessment. This will not only affect traders but also tax collections. We hope that in the subsequent years the crypto industry gets treated like other investment-related industries,” Vishwanath said.“Witnessing no amendments in the crypto taxation policies have discouraged firms and investors from investing in the volatile market.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GOP-controlled Legislature passes anti-abortion bill punishing victims of rape and incestGov. Doug Ducey has said he supports 'exceptions for life of the mother, rape and incest.' So, will he veto an anti-abortion bill that offers none?
Read more »
Madeleine Albright, first female secretary of state, passes away at age 84PASSING OF A PIONEER: Albright earned the Medal of Freedom in 2012 and is remembered for being at the forefront of foreign policy after the Cold War.
Read more »
U.N. Passes Resolution Blaming Russia for the Humanitarian Crisis in UkraineThe U.N. passed a resolution criticizing Russia for its role in the rapidly deteriorating humanitarian situation in Ukraine. The nonbinding resolution demanded “an immediate cessation of the hostilities by the Russian Federation against Ukraine.”
Read more »
Colorado reproductive rights bill passes Senate, heads to governor's deskColorado Democrats sent their reproductive rights and abortion access bill to the desk of Gov. Jared Polis after it passed its third reading in the Senate in a party-line 20-15 vote.
Read more »
Arizona Senate Passes GOP Bill That Could Spark 'Most Extreme Voter Purge' in US'This is a recipe for chaos, not election integrity, and it would likely cut the state's electorate in half overnight,' warned Phx_Marilyn.
Read more »
A second grand jury considers indicting Deshaun Watson as he passes his Browns physical on ThursdayDeshaun Watson passed his physical at the Browns facility on Thursday and is ready to begin his career here, but a second grand jury convened in Texas to consider indictment against the three-time Pro Bowler, a league source has confirmed.
Read more »