The effect of Crypto bill 😧

Namaskar / Hello to all hive users, who will reach this post. I hope you are doing great and having fun in your life and enjoying it with your loved ones.

It's been years since the government wants to ban crypto from year 2018, most Indians did afraid from back then what will be going to happen, and finally, we did see a bill that will be soon implemented by the next months, and the regulation bill is not that quite good for all the traders and investors. maybe it can be good for long-term holders there must be and should be a way to save 30% tax cause it is really a huge amount. I did feel a bit low and sad from the day I did hear and read about the "crypto regulation bill".

The Finance Bill 2022 passed in Lok Sabha with new crypto tax rules.:
▫️ 30% Flat tax on every profit.
▫️ 1% TDS on every trade/transaction (July Onwards)
▫️ No Deductions.
▫️ No Loss setoff.

source
if you are an Indian do-follow @CryptooIndia for regular updates on the crypto-related stuff the guy is good at that.

so today the bill has passed and soon enough we all have to follow that and there is no way that, the government does think that the crypto is used for criminal things and gambling so they did make the same rules for crypto this really bad decision 30 % tax is really a huge amount.

are you going to pay the 30% tax in each transition and 1% TDS on each transition that will be going to implement by July of this year?

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image Source

even though the government did not bad crypto but this is worse than a ban I guess. there has been a debate about crypto on the Lok Sabha it was really good to see some members are in favor of that but that did not make any difference at all.
if you want to watch you can watch it from here I will put the link at the end if you want to see you can watch the videos from there.

Is there a way to get rid of this ? :

yes, of course, there is always a way, we just have to find that lol yes that is true there are many websites available that are very useful for all of us and we all save a lot of money by using them. do read this great post from @bala41288 bhai 😀
Different ways to directly use Crypto for payments without paying tax though withdrawal

what I find out interesting from the post are two things:

• Cryptorefills

• Getting the payment out through a foreign friend

I do think that the second option is the best way to get the payment it will sure way less than 30 % tax there are even many more ways to do that, I did discuss a few things with my friend of hive let's see if that will work it will be amazing and I dont even have to pay a single penny extra to that. I will not share the trick now first I will try after that I will sure share that.

what do you think about this ? did you figure out something else let me know? together we can find a way. 😅

https://twitter.com/CryptooIndia/status/1507258486052122624

https://twitter.com/CryptooIndia/status/1507264424846901252

https://twitter.com/CryptooIndia/status/1507290035988561922

https://twitter.com/CryptooIndia/status/1507290035988561922

https://twitter.com/CryptooIndia/status/1507309954662735875

https://twitter.com/CryptooIndia/status/1507312180466647043

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