Quote On Post Budget By Shivam Thakral, CEO of BuyUcoin, India`s second-longest-running digital asset exchange
Below The Quote On Post Budget By Shivam Thakral, CEO of BuyUcoin, India’s second-longest-running digital asset exchange
The Union Budget 2025, presented today, has left the Web3 sector with mixed feelings. While there were no specific announcements addressing the unique challenges faced by this innovative space, the Finance Minister's commitment to rationalizing tax deduction at source (TDS) is a step in the right direction. Reducing the number of rates and thresholds for TDS can enhance clarity and compliance for businesses operating within the Web3 ecosystem.
Furthermore, the establishment of a committee to review reforms aimed at improving the ease of doing business is promising. This initiative could lead to streamlined regulations that are crucial for attracting investments in startups, including those in the Web3 domain. The proposed 'Fund of Funds for Startups' and extending the incorporation period for startups to five years signal a supportive environment for entrepreneurship.
However, we urge for more decisive action regarding taxation and regulatory frameworks to foster growth in Web3. We at BuyUcoin believe that clear guidelines are essential to reduce uncertainties and encourage both domestic and international investments. Together, we can pave the way for India to become a global leader in digital assets.
Above views are of the author and not of the website kindly read disclaimer
