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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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Randall
@randallh
Prior to the budget announcement, the cryptocurrency industry had expressed hopes for tax reforms, including reducing the TDS rate from 1% to 0.01%, allowing the offsetting of losses against gains, and lowering the overall tax rate on VDAs. Industry leaders believed these changes could stimulate growth, improve compliance However, the budget did not address these expectations, leaving the current tax structure intact.
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