💥UPSC 2026, 2027 UAP Mentorship September Batch

Q.3 What is DeFi (Decentralised Finance)? What are the implications of levying high tax on gains made from the transfer of cryptocurrencies and NFTs (Non-Fungible Tokens)? (10 Marks)

Mentor’s comment-
  • https://www.thehindu.com/opinion/op-ed/after-the-budgets-crypto-signal-india-awaits-reforms/article65055762.ece
  • In the intro, mention 30% flat tax rate on gains from crypto and NFTs.
  • In the body, explain DeFi and implications of high tax on gains from crypto which can provide a fillip to DeFi and reluctance to convert crypto into rupee, increase in technology-based innovation etc.
  • Conclude by mentioning the need for reforms such as reducing tax rate in the future and incorporation of insights from seasoned partners from the international community.
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Karun Kumar Takhele
3 years ago

ID- Ir1zuLIKkQ1gwr

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aarti bhimani
3 years ago

@staff

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Anoop Sharma
3 years ago

Id #0000520807

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