Crypto Tax Updates: 2025

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🚨 BREAKING: Income Tax Bill 2025: Crypto = DRUGS? 🤯 I read the 4,500pg Report by "Select Committee on ITB 2025" so that you don't have to! Crypto Tax Updates in this 🧵 1️⃣ Proposal by Experts & BWA 2️⃣ Comments by Committee 3️⃣ Ministry of Finance - Crypto and Drugs 1/6

1️⃣ Proposed changes in Crypto Tax by Experts and BWA: 😄 Loss off-set be allowed for trades on FIU registered exchanges. 💸 Loss off-set should be allowed within VDA. 💰 Deduction should be allowed for Brokerage and Interest on loan. Your thoughts on these proposals⁉️ 2/6

2️⃣ Comments by Select Committee: Expense Deduction: ❌ Not Allowed 💡 Reason: This is a policy change and outside the scope of ITB 2025. 🧑‍🏫 Meaning: NO CHANGE in deductions. Only Cost of acquisition is allowed as deduction ✅ 3/6

3️⃣ Ministry of Finance: Crypto, Kya Crypto? Yeh toh Drugs hai. Loss-off set: ❌ Not Allowed 💡 Reason: Can you allow expense deduction for sale of drugs❓ 🇮🇳 taxes Income. Taxation ≠ Legality. 🧑‍🏫 Meaning: High Crypto Tax + NO Investor protection from GoI 🇮🇳 4/6

🙋 Valid Question of Community: Why Is the GoI collecting revenue while calling the industry illegal⁉️ This contradiction hurts builders, investors, and platforms. You CAN'T have tax enforcement without acknowledging the legal status of the activity. 5/6

⚠️ If crypto is illegal, say it. ✅ If crypto is legal, treat it like any other asset class. ❌ But don't use tax law to sit on the fence. A clean, progressive & globally aligned policy is long overdue 🇮🇳 OR maybe, we are only good at following orders🤔 Your thoughts 🙏 6/6