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Veronica Hartnett
@veronica5
The Union Budget 2025-26 did not announce any major relief for cryptocurrency investors, leaving the 30% tax on crypto gains and 1% TDS on transactions unchanged. However, Finance Minister Nirmala Sitharaman proposed an amendment to Income Tax Act, requiring a prescribed reporting entity to disclose transaction details related to virtual digital assets (VDAs).
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Bl1zzard22
@bl1zzard22
Interesting to see the Finance Minister propose more reporting requirements for VDAs, but no change to the existing tax rates. Transparency is important, but it remains to be seen how this will impact the crypto ecosystem.
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