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Worldwide countries have a progressive tax system, citizens who make very less money are usually exempt from taxes or pay less, while those who make more money, the rich are expected to pay more taxes. For example Indian citizens making less than Rs 2.5 lakh annually (approximately $3000) are exempted from paying income tax .
Only in the Indian internet sector, the top tech and internet companies have ensured that there is a very regressive system in the tech, internet sector, the online workers, investors who are paying most expenses, are also expected to spend more, are not being acknowledged, while the banking fraudster government employees do not pay any expenses, do not spend any time are also not expected to spend money though they are the greatest beneficiaries from government slavery.
The reason why some Indian citizens are forced to do crypto work, is because of the fraud of Indian government agencies, especially intelligence agencies of hiring fake experts, falsely claiming that their greedy good looking fraud employees with no online income, do not pay expenses are online experts, investors after robbing the data of private citizens to pay these banking fraudsters employees monthly salaries, give them great powers.
While there may be some rich Indians and employees who trading in crypto and making huge profits, there are also a large number of Indian citizens who are paid in cryptocurrencies for the various services and products which they sell to customers outside India. These online workers, are often finding it extremely difficult to get any suitable paid work in India. Professionals from poorer communities with corrupt, dishonest leaders, officials exploiting them cannot work for businesses in India due to the risk of fake cases against them.
The customers of these online workers, often do not have a PayPal account or prefer to pay in cryptocurrencies due to the lower transaction fees. Most of these online crypto workers are making less than Rs 3 lakh annually from online work, and use it to pay their daily expenses, like food, healthcare, travel,clothes, rent. If the online worker is making only one lakh a year, he will not want to pay 30% of the meagre income as taxes if they receive payment in Indian exchanges.
The indian crypto exchanges are only focusing on rich traders, they have not considered the online workers who are making very less money. This refusal to consider the indian online workers who are getting paid in cryptocurrencies has adversely affected indian crypto exchanges who have not take up the case of these online workers with the policy makers.
While the rich indian traders can afford to pay 30% taxes, the regressive indian government policy of charging online workers making very less money 30% tax has affected indian crypto exchanges. Till the government ends its regressive taxation policy, and adopts a progressive crypto tax policy, stop rewarding fake experts, Indian online workers making less money, may not use Indian crypto exchanges.
