Lagatar24 Desk
New Delhi, Feb 1: The Congress party has slammed Finance Minister Nirmala Sitharaman’s presentation of the Union budget in parliament today, claiming it contains no provisions for the middle class.
“Disappointing budget. Achhe din pushed even further away. No relief to middle class,” said Congress leader Shashi Tharoor.
“India’s Salaried Class & Middle Class were hoping for relief in times of pandemic, all round pay cuts and back breaking inflation. FM & PM have again deeply disappointed them in Direct Tax measures. This is a betrayal of India’s Salaries Class & Middle Class,” tweeted Randeep Singh Surjewala.
Pl read “Salaried” instead of “Salaries”. https://t.co/oNXndv3HVI
— Randeep Singh Surjewala (@rssurjewala) February 1, 2022
He also questioned the Finance Minister’s crypto tax regime in India which she announced in her Budget Speech 2022.
And Ms. Finance Minister, pl do tell the Nation –
Is Crypto Currency now legal, without bringing the Crypto Currency Bill, as you tax the crypto currency?
• What about its regulator?
• What about regulation of Crypto Exchanges?
• What about investor protection?#Budget2022— Randeep Singh Surjewala (@rssurjewala) February 1, 2022
According to the new provisions, income from the transfer of virtual digital assets would be taxed at 30%. no set-off will be allowed in the event of losses. Furthermore, gifts of virtual digital assets would be taxed in the recipient’s hands.
For crypto investors, the declaration of a high tax on cryptocurrency profits is a huge disappointment.
