pull down to refresh

India's Union Budget 2025-26 | Live from the Parliamentyoutu.be/AJvhw2a9BBo
144 sats \ 2 comments \ @Coinsreporter 1 Feb 2025 econ

This is the eighth consecutive budget by Nirmala Sitharaman as the Finance Minister of the world's largest democracy.

I hope that she'll cut the tax rates and increase the slabs. I also hope that she eases the stance on Bitcoin taxes which are at about 32% right now.

If this budget doesn't give solutions for the unemployed, the poor and the middle class, Modi won't be back as PM next time. It's like a do or die situation for him.

write
preview
related posts
32 sats \ 0 replies \ @Coinsreporter OP 1 Feb 2025

No income tax till income of Rs 12 lakh

FM says: Democracy, demography and demand crucial, appreciates role of middle class in national building. No income tax till income of Rs 12 lakh, she announces

Big move. It was 2.5 lakh till today. More details awaited.

reply
0 sats \ 0 replies \ @Coinsreporter OP 1 Feb 2025

60% Tax on Undisclosed Bitcoin Income

Bitcoin traders may face 60% tax penalty for undisclosed income under the new proposed IT Act Provisions
Union Budget 2025 has proposed to introduce VDAs (Including Bitcoin) under Section 158B of the Income Tax Act that reports ‘undisclosed income’, and it’s more than what meets the eye.
This section will give the power to government agencies to conduct block assessment or investigation of undisclosed income of traders, which if found not reported will amount to as high as 60 percent income tax fine for the entire period of the unreported crypto income, as mentioned under 158BA(7) referring to ‘Tax in the case of block assessment of search cases.’
reply