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Bharat Web3 Association raised concerns about high crypto taxes & requested relief in Budget 2023

Web3 industry body Bharat Web3 Association will be holding a meeting with the finance ministry to talk about high taxes on crypto currencies.

The industry body, which includes founding members Coinbase, CoinDCX, CoinSwitch Kuber, and Polygon, will also discuss regulatory uncertainty in the ecosystem. BWA has already submitted a draft of its concerns and recommendations to the finance ministry and will hold consultations with CBDT officials. BWA will also discuss the provisions that prevent investors from carrying forward crypto and other VDA losses at a meeting next week. Representatives from the crypto industry also want the government to reduce the TDS to 0.1%.

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