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Topic: [ANN] Reflection Trading - Next-gen Stock Token Trading Platform (Read 458 times)
October 23, 2023, 01:52:43 AM
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October 03, 2023, 04:48:54 AM
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February 20, 2023, 04:52:47 AM
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February 14, 2023, 04:50:48 AM
[...]
That said, I'll add that I don't know how can I say this without sounding like a total jackass, but I still have to ask, so I'll just shoot it: were you saying that you propose to open your service in certain market without prior study of the said field, all the advantages and disadvantages you'll get from choosing that market?
That said, I'll add that I don't know how can I say this without sounding like a total jackass, but I still have to ask, so I'll just shoot it: were you saying that you propose to open your service in certain market without prior study of the said field, all the advantages and disadvantages you'll get from choosing that market?
Hi, it came to my awareness that peterspiro was online days after my last question quoted above and probably forgot to reply me. As I am somewhat sure both account attending this thread are related --if not operated by the same person-- I would like to remind you to address my question so we can move to other details I'd like the community to know about
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February 07, 2023, 03:55:11 AM
That's interesting, the capital gains tax in India is certainly much lower than in the US. In the US, short term gains can be taxed as high as 35%, depending on your income.
There may be some other advantages to our system, however. Here are a few:
* The stock tokens can be traded or exchanged off-platform, given as gifts, or used as prizes on other crypto sites--all things you cannot do with traditional stocks
* Anyone can trade on Reflection. I would assume stock brokers in India have restrictions on who can open an account...
* We will accept trades for any dollar amount, so you could buy a few dollars worth of an expensive stock
* We will initially support 16 hours per day stock trading and 24 hours per day ETF trading, and ultimately we expect to support 24 hours per day stock trading as well
* While you must still pay tax on your profits and the 1% TDS, we are not required to report your individual trades, so there is some additional privacy
* When we rollout short selling and margin trading, the rules can be more lax since we won't be subject to the same restrictions as traditional brokers
These are just some of the ideas that come to mind...
-Peter Spiro
According to several articles I looked for, like this one and this one, we can quite confident that tax for capital gain in india is 10-15% depending on the holding terms --anyone more familiar with this system and rate are welcome to give their input.
Let's say that the tax is 15%, wouldn't it impose a great disadvantage for the Indian to invest on your business model? Not only they're not entitled to the shares they bought --as it'll be owned by Reflection-- they also subjected to a far higher taxes buying the shares in VDA than in actual stock holding.
There may be some other advantages to our system, however. Here are a few:
* The stock tokens can be traded or exchanged off-platform, given as gifts, or used as prizes on other crypto sites--all things you cannot do with traditional stocks
* Anyone can trade on Reflection. I would assume stock brokers in India have restrictions on who can open an account...
* We will accept trades for any dollar amount, so you could buy a few dollars worth of an expensive stock
* We will initially support 16 hours per day stock trading and 24 hours per day ETF trading, and ultimately we expect to support 24 hours per day stock trading as well
* While you must still pay tax on your profits and the 1% TDS, we are not required to report your individual trades, so there is some additional privacy
* When we rollout short selling and margin trading, the rules can be more lax since we won't be subject to the same restrictions as traditional brokers
These are just some of the ideas that come to mind...
-Peter Spiro
You are correct that there is a 1% TDS. We are required to collect this tax upon sale of the stock tokens. I can't say whether or not the other percentages are correct as I'm not an expert on India taxes.
I actually meant to ask for a bigger scope and not limited to India, as you stated that India is your first marker and you'll work your way to operate globally. But sure, let's talk about India first before moving to the bigger scope.
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
According to several articles I looked for, like this one and this one, we can quite confident that tax for capital gain in india is 10-15% depending on the holding terms --anyone more familiar with this system and rate are welcome to give their input.
Let's say that the tax is 15%, wouldn't it impose a great disadvantage for the Indian to invest on your business model? Not only they're not entitled to the shares they bought --as it'll be owned by Reflection-- they also subjected to a far higher taxes buying the shares in VDA than in actual stock holding.
First of all, your post opens several point to be discussed about, ones that's too diverse to be discussed on the same time. So I'll just quote the post for future reference and start with the one I mark in bold.
That said, I'll add that I don't know how can I say this without sounding like a total jackass, but I still have to ask, so I'll just shoot it: were you saying that you propose to open your service in certain market without prior study of the said field, all the advantages and disadvantages you'll get from choosing that market?
February 06, 2023, 06:49:34 PM
That's interesting, the capital gains tax in India is certainly much lower than in the US. In the US, short term gains can be taxed as high as 35%, depending on your income.
There may be some other advantages to our system, however. Here are a few:
* The stock tokens can be traded or exchanged off-platform, given as gifts, or used as prizes on other crypto sites--all things you cannot do with traditional stocks
* Anyone can trade on Reflection. I would assume stock brokers in India have restrictions on who can open an account...
* We will accept trades for any dollar amount, so you could buy a few dollars worth of an expensive stock
* We will initially support 16 hours per day stock trading and 24 hours per day ETF trading, and ultimately we expect to support 24 hours per day stock trading as well
* While you must still pay tax on your profits and the 1% TDS, we are not required to report your individual trades, so there is some additional privacy
* When we rollout short selling and margin trading, the rules can be more lax since we won't be subject to the same restrictions as traditional brokers
These are just some of the ideas that come to mind...
-Peter Spiro
According to several articles I looked for, like this one and this one, we can quite confident that tax for capital gain in india is 10-15% depending on the holding terms --anyone more familiar with this system and rate are welcome to give their input.
Let's say that the tax is 15%, wouldn't it impose a great disadvantage for the Indian to invest on your business model? Not only they're not entitled to the shares they bought --as it'll be owned by Reflection-- they also subjected to a far higher taxes buying the shares in VDA than in actual stock holding.
There may be some other advantages to our system, however. Here are a few:
* The stock tokens can be traded or exchanged off-platform, given as gifts, or used as prizes on other crypto sites--all things you cannot do with traditional stocks
* Anyone can trade on Reflection. I would assume stock brokers in India have restrictions on who can open an account...
* We will accept trades for any dollar amount, so you could buy a few dollars worth of an expensive stock
* We will initially support 16 hours per day stock trading and 24 hours per day ETF trading, and ultimately we expect to support 24 hours per day stock trading as well
* While you must still pay tax on your profits and the 1% TDS, we are not required to report your individual trades, so there is some additional privacy
* When we rollout short selling and margin trading, the rules can be more lax since we won't be subject to the same restrictions as traditional brokers
These are just some of the ideas that come to mind...
-Peter Spiro
You are correct that there is a 1% TDS. We are required to collect this tax upon sale of the stock tokens. I can't say whether or not the other percentages are correct as I'm not an expert on India taxes.
I actually meant to ask for a bigger scope and not limited to India, as you stated that India is your first marker and you'll work your way to operate globally. But sure, let's talk about India first before moving to the bigger scope.
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
According to several articles I looked for, like this one and this one, we can quite confident that tax for capital gain in india is 10-15% depending on the holding terms --anyone more familiar with this system and rate are welcome to give their input.
Let's say that the tax is 15%, wouldn't it impose a great disadvantage for the Indian to invest on your business model? Not only they're not entitled to the shares they bought --as it'll be owned by Reflection-- they also subjected to a far higher taxes buying the shares in VDA than in actual stock holding.
February 06, 2023, 03:24:53 AM
You are correct that there is a 1% TDS. We are required to collect this tax upon sale of the stock tokens. I can't say whether or not the other percentages are correct as I'm not an expert on India taxes.
I actually meant to ask for a bigger scope and not limited to India, as you stated that India is your first marker and you'll work your way to operate globally. But sure, let's talk about India first before moving to the bigger scope.
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
According to several articles I looked for, like this one and this one, we can quite confident that tax for capital gain in india is 10-15% depending on the holding terms --anyone more familiar with this system and rate are welcome to give their input.
Let's say that the tax is 15%, wouldn't it impose a great disadvantage for the Indian to invest on your business model? Not only they're not entitled to the shares they bought --as it'll be owned by Reflection-- they also subjected to a far higher taxes buying the shares in VDA than in actual stock holding.
February 05, 2023, 08:01:48 PM
You are correct that there is a 1% TDS. We are required to collect this tax upon sale of the stock tokens. I can't say whether or not the other percentages are correct as I'm not an expert on India taxes.
I actually meant to ask for a bigger scope and not limited to India, as you stated that India is your first marker and you'll work your way to operate globally. But sure, let's talk about India first before moving to the bigger scope.
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
Great question. You are correct in that Reflection is the owner of the shares. The trader is the owner of the stock token, which in India is called a VDA (virtual digital asset), same as Bitcoin or Ethereum. If you google "VDA taxes in India," you will find many articles discussing the taxation of these assets. However, to be completely safe, you would probably want to consult with your accountant.
-Peter Spiro
(Here's one article on VDA taxes)
https://www.livemint.com/money/personal-finance/why-vda-taxation-needs-attention-in-the-budget-2023-11674492401278.html
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
-Peter Spiro
(Here's one article on VDA taxes)
https://www.livemint.com/money/personal-finance/why-vda-taxation-needs-attention-in-the-budget-2023-11674492401278.html
Hello, all, sorry for the delayed response. I am Peter Spiro, founder and CEO of Reflection.trading.
You can view my LinkedIn profile here:
[...]
You can view my LinkedIn profile here:
[...]
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
I actually meant to ask for a bigger scope and not limited to India, as you stated that India is your first marker and you'll work your way to operate globally. But sure, let's talk about India first before moving to the bigger scope.
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
February 03, 2023, 06:59:57 AM
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February 03, 2023, 01:58:58 AM
Great question. You are correct in that Reflection is the owner of the shares. The trader is the owner of the stock token, which in India is called a VDA (virtual digital asset), same as Bitcoin or Ethereum. If you google "VDA taxes in India," you will find many articles discussing the taxation of these assets. However, to be completely safe, you would probably want to consult with your accountant.
-Peter Spiro
(Here's one article on VDA taxes)
https://www.livemint.com/money/personal-finance/why-vda-taxation-needs-attention-in-the-budget-2023-11674492401278.html
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
-Peter Spiro
(Here's one article on VDA taxes)
https://www.livemint.com/money/personal-finance/why-vda-taxation-needs-attention-in-the-budget-2023-11674492401278.html
Hello, all, sorry for the delayed response. I am Peter Spiro, founder and CEO of Reflection.trading.
You can view my LinkedIn profile here:
[...]
You can view my LinkedIn profile here:
[...]
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
I actually meant to ask for a bigger scope and not limited to India, as you stated that India is your first marker and you'll work your way to operate globally. But sure, let's talk about India first before moving to the bigger scope.
I took a quick glance at the arcticle you provided, and am I correctly understand that VDA applies a 30% tax plus 1% holding tax, while stock trading --the conventional ones-- are subjected to 10-15% tax?
February 02, 2023, 11:20:39 AM
Great question. You are correct in that Reflection is the owner of the shares. The trader is the owner of the stock token, which in India is called a VDA (virtual digital asset), same as Bitcoin or Ethereum. If you google "VDA taxes in India," you will find many articles discussing the taxation of these assets. However, to be completely safe, you would probably want to consult with your accountant.
-Peter Spiro
(Here's one article on VDA taxes)
https://www.livemint.com/money/personal-finance/why-vda-taxation-needs-attention-in-the-budget-2023-11674492401278.html
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
-Peter Spiro
(Here's one article on VDA taxes)
https://www.livemint.com/money/personal-finance/why-vda-taxation-needs-attention-in-the-budget-2023-11674492401278.html
Hello, all, sorry for the delayed response. I am Peter Spiro, founder and CEO of Reflection.trading.
You can view my LinkedIn profile here:
[...]
You can view my LinkedIn profile here:
[...]
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
February 02, 2023, 05:22:46 AM
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January 31, 2023, 12:42:39 PM
Hello, all, sorry for the delayed response. I am Peter Spiro, founder and CEO of Reflection.trading.
You can view my LinkedIn profile here:
[...]
You can view my LinkedIn profile here:
[...]
Hi, thank you for creating a new account here just to tell us about this, although simply updating your LinkedIn as you've already did is enough, as we can now move forward, there's one technical thing that I don't quite understand from your proposal. It is stated that the buyer of those shares are not entitled to the actual share, which I assume will be due to the name on the said shares will be you. Suppose someone holding it long term, how will this affect their annual tax report? Given they actually didn't officially possess the shares, yet they actually owned it
January 31, 2023, 05:47:30 AM
Saving is putting your money to rest,
Trading is putting your money to work
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Trading is putting your money to work
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