India’s Equity Tax Proposal Puts Crypto’s 30% Rate in Focus

Two people with direct knowledge of a confidential pre-Budget submission say India’s Securities and Exchange Board of India (SEBI) recommended targeted equity tax relief, while the government has announced no change and income from virtual digital asset transfers remains subject to a 30% tax. The tax rates are not directly comparable: equity rates depend on asset type, holding period and transaction conditions, while the VDA rate applies to income from transfers. The two people said SEBI recommended eliminating long-term capital gains tax for foreign equity investors and exempting domestic mutual fund investors from that tax when they switch holdings kept for more than a year into another scheme. The recommendations are nonbinding, leaving any final decision to the government.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.