Bharat Web3 Association raised concerns about high crypto taxes & requested relief in Budget 2023

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Web3 industry body Bharat Web3 Association will be holding a meeting with the finance ministry to talk about high taxes on crypto currencies.

The industry body, which includes founding members Coinbase, CoinDCX, CoinSwitch Kuber, and Polygon, will also discuss regulatory uncertainty in the ecosystem. BWA has already submitted a draft of its concerns and recommendations to the finance ministry and will hold consultations with CBDT officials. BWA will also discuss the provisions that prevent investors from carrying forward crypto and other VDA losses at a meeting next week. Representatives from the crypto industry also want the government to reduce the TDS to 0.1%.

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Bharat Web3 Association raised concerns about high crypto taxes & requested relief in Budget 2023

Web3 industry body Bharat Web3 Association will be holding a meeting with the finance ministry to talk about high taxes on crypto currencies.

The industry body, which includes founding members Coinbase, CoinDCX, CoinSwitch Kuber, and Polygon, will also discuss regulatory uncertainty in the ecosystem. BWA has already submitted a draft of its concerns and recommendations to the finance ministry and will hold consultations with CBDT officials. BWA will also discuss the provisions that prevent investors from carrying forward crypto and other VDA losses at a meeting next week. Representatives from the crypto industry also want the government to reduce the TDS to 0.1%.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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