Indian Parliament Member Asks Government to Tax Crypto Income More Than 30%

An Indian lawmaker has called on the government to raise taxes on crypto income from the current proposed 30% rate, insisting that crypto trading is like gambling. He also demanded that Goods and Services Tax (GST) be levied on the total transaction value of crypto.

India's Finance Bill 2022, including the proposed 30% tax on crypto income, is now being considered in the Rajya Sabha, the upper house of the Indian Parliament.

MP Sushil Kumar Modi on Monday asked the government to increase the current rate of tax on cryptocurrency income from 30%.

I would like to request the Finance Minister to consider the 30% tax you have imposed on crypto in the coming days to see if this tax can be increased further.