Cryptocurrency industry in India is expecting positive and progressive changes from Price Range 2025. India has become a leading nation at the global level in terms of adopting cryptocurrency. However, this sector has faced some serious challenges due to the tax and other rules implemented in Price Range 2022. Prominent among these rules are 1% TDS (tax deducted at supply) on crypto transactions and ban on losses compared to profit. There was an atmosphere of disappointment in the Crypto Community due to these strict provisions, but now the expectations of the community from the Union Budget of 2025 have woke up again. However, the crypto community did not get any special hand from the Union Price Range 2024, due to which the community is once again in a state of confusion.
Need to improve crypto taxation
The Crypto industry has seen a great growth in recent years, but in India it requires improvement to absorb the mainstream. In the budget of 2022, the government imposed 30% tax on the income from crypto, which was much higher than other investments. In addition, 1% TDS was also implemented on crypto transactions, which led to difficulties to investors, especially for investors whose transaction number is high. Due to these provisions, the participation of investors towards Crypto has declined and the problem of liquidity in the market has also arisen.
Demand for Crypto Community
The Crypto Community now expects the government that these issues will be considered in Union Price Range 2025. The most important demand is, 1% TDS applied to crypto transactions under section 194S should be reduced to 0.01%. The community argues that this step will encourage investors to invest and increase trading volumes. Apart from this, under this section, the limit of crypto transaction is also being increased from Rs 50 thousand to Rs 5 lakh, which will give more flexibility to investors.
In addition, the Crypto Community has also demanded the government that 30% tax on crypto income should also be considered again. The community believes that having a simple and flexible tax structure will create confidence among investors and increase activity in the Crypto market.
Conclusion
Union Budget in 2025 Cryptocurrency Some serious challenges related to are likely to be resolved. The expectations that Crypto Community have expressed will not only affect the growth rate of this sector, but will also increase the trust of investors. The government may be more golden by the government by seriously considering these proposals. If these reforms are implemented, not only the pace of crypto adoption in India will be accelerated, but India can make a major player in the Global Crypto Market.
