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Crypto, Tech, & Other Sectors Braces Ahead Of Union Budget 2024 – Crypto News

Published

2 years ago

January 31, 2024

Dripp

Pre-Budget 2024 LIVE Updates: The eagerly awaited India Budget 2024 announcement by Finance Minister Nirmala Sitharaman on February 1 has sparked expectations across various sectors like crypto, finance, technology, and others. In a unique twist, the Indian crypto community has recently taken to social media with the hashtag ‘#ReduceCryptoTax,’ urging changes in cryptocurrency tax regulations.

Despite persistent appeals over the last two years, the government has yet to revisit these laws, causing concerns about hindering crypto growth and triggering a talent exodus. The crypto sector, through social media, is pushing for more flexible tax slabs, a reduction in Tax Deducted at Source (TDS) from 1% to 0.01% on each transaction, and the allowance of carrying forward losses, mirroring practices in the stock market. All eyes are on Union Budget 2024 for potential shifts in the crypto tax landscape.

10:50:31 AM IST, 31 January 2024

Pre-Budget 2024 LIVE Updates: What does the steel industry expect?

Director Lalit Beriwala of Shyam Steel Industries anticipates no major changes in the interim budget, urging relief on personal income tax for salaried individuals. Beriwala proposes doubling income tax slabs and extending corporate tax benefits for new investments. He underscored that restarting the Indian Railways’ ‘Wagon Investment Scheme’ to align with India’s steel industry growth and production. Detailed budget expectations await July’s presentation.

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