Author

Topic: What are your expectation from Union Budget 2023? (Read 77 times)

sr. member
Activity: 756
Merit: 390
February 04, 2023, 08:13:06 AM
#6
I have been following their policies for the last two days, as we expected nothing comes related to crypto tax and they ignored many sector for example agriculture sector, construction sector along with they waived many incentives like the home loan incentive but all they did is reduced the corporate and surcharge so its clear that the government is working for rich and never care what the remaining 90% doing for their life.

I am not that good at understanding the Indian budget! What is favorable to me financially I look forward to those in the budget every year.  My primary focus has always been on Tax for the salaried class and as an employee who works 9 hours every day except the weekends am happy with the current budget. I am also an investor who regularly buys Bitcoin and with the crypto tax law, I am not happy. I was not expecting anything this year but I am certain that we might see some positive news next year. After the central elections, we might encounter a lot of negative news in 2025.

What do you think?   
hero member
Activity: 2114
Merit: 619
As expected nothing for crypto in this year's budget. I heard some people were expecting relief relating to TDS on crypto but I don't think that is going to happen until they have 30% tax on Cryptos. Government to hese days is in direction of applying TDS everywhere wherever possible in such a scenario they obviously won't leave Cryptos out of this scope. Other than Cryptos also, overall it's just a usual budget nothing new, nothing huge, some allocation cuts from major schemes given to othe schemes. Tax relief just for name sake as most of the assessees opt for old scheme only.
sr. member
Activity: 910
Merit: 284
This is a absolutely nonsense as the finance ministry is not even considering cryptocurrency as a worthy asset class to even discuss about it. Their ignorance is very very visible!

I have been following their policies for the last two days, as we expected nothing comes related to crypto tax and they ignored many sector for example agriculture sector, construction sector along with they waived many incentives like the home loan incentive but all they did is reduced the corporate and surcharge so its clear that the government is working for rich and never care what the remaining 90% doing for their life.
legendary
Activity: 3080
Merit: 1500
Nothing more to expect! Our dear honourable FM didn't speak a single word about crypto taxes in today's budget. So the 30% taxation still persists and I am not going to sell a single dime from my bitcoin holding. That's precisely what I had expected and the Union budget has fulfilled my expectations.

This is a absolutely nonsense as the finance ministry is not even considering cryptocurrency as a worthy asset class to even discuss about it. Their ignorance is very very visible!
hero member
Activity: 2156
Merit: 803
Top Crypto Casino
As you said none and the same I feel here. The budget got rolled out today, as usual, there is nothing for the cryptocurrency community. The good thing about this budget is that the salaried class gets some benefits. The worst part I assume here is that they would increase GST to cover the loss. I must say these guys are cunning!

Why they ignore us because according to them earnings from crypto are gambling but earnings from the stock market are not. There are many here who have made a living out of the cryptocurrency business. I still feel sorry for those guys! My advice to them is that It is better to leave this country and move to a location suitable for this business.
sr. member
Activity: 756
Merit: 390
I have zero expectations related to crypto tax but I have read a few articles wherein the focus would be more to appease the salaried class (basically the middle class). Last year our FM suddenly decided to implement a crypto tax law. Do you guys think she will announce cryptocurrency regulation this year? As I hardly know any country that has enacted or implemented cryptocurrency regulation.
Jump to: