India’s Budget 2025 Snubs Crypto Again with 30% Tax 🤦‍♂️

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Dear Reader, it is with a heavy heart and a rather amused spirit that I must inform you of the latest spectacle in the Indian Parliament. The Finance Minister, the charming and ever so eloquent Nirmala Sitharaman, presented the Union Budget 2025, a grand feast of fiscal relief and economic reforms, yet amidst all the pomp and circumstance, our dear cryptocurrency was left to languish in the shadows, much like a forgotten guest at a grand ball.

While the common man was showered with a tax relief up to Rs 12 lakh, a sum so generous it could make a pauper weep with joy, the crypto community was left to ponder their fate, ensnared by a 30% tax on capital gains and an additional 1% Tax Deducted at Source (TDS) on virtual digital assets (VDAs). One cannot help but wonder, is it a punishment for daring to dream of a digital future, or simply a case of bureaucratic oversight?

Breaking : No mention of Crypto or VDA Tax in the Budget Session by 🇮🇳Finance Minister.

Crypto tax remains Unchanged. #Budget2025

— Crypto India (@CryptooIndia) February 1, 2025

The crypto enthusiasts, ever the hopeful romantics, had pleaded for a progressive tax structure and clearer regulations, a call that echoed through the digital corridors of India. Alas, their prayers fell on deaf ears, as the Finance Minister, in her eloquent 1.5-hour speech, chose to focus on more tangible matters such as agriculture, airports, and the health of the nation’s gig workers.

This was the eighth consecutive budget under the stewardship of Prime Minister Narendra Modi, a man whose administration has become a master of balancing fiscal prudence with electoral strategy. The tax relief for the middle class, a move as shrewd as it is generous, has been hailed by many and criticized by some, but one thing is certain: it has set the stage for a political drama that will unfold in the coming elections.

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2025-02-01 10:46