India Budget 2026: Crypto Tax Mismatch Leaves Traders Owed Refunds
- Tax Mismatch Issue: India collected ₹511.83 crore in TDS for FY 2024-25, yet over 30% of TDS deductions exceeded traders' final tax liabilities, resulting in approximately ₹38.52 crore locked in excess TDS, adversely affecting traders' cash flow.
- KoinX User Contributions: KoinX users contributed ₹130.16 crore in TDS, accounting for 25.43% of total collections, while their final tax liability was only ₹91.64 crore, highlighting the unfavorable impact of the current tax system on users and potentially leading to numerous refund requests.
- Industry Calls for Reform: As the 2026 budget approaches, the crypto industry is advocating for reforms to the existing 30% capital gains tax and 1% TDS, emphasizing the need for a more outcome-based tax framework that aligns with actual investor needs.
- Policy Recommendations: Manhar Garegrat, Country Head–India at Liminal Custody, warned that current tax frictions are pushing compliant trading offshore, suggesting that Budget 2026 should reconsider transaction-level taxes and explore a VDA transaction tax model to maintain onshore crypto activity's transparency and economic viability.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U) As of , Union (U) is exhibiting a Buy technical sentiment. Our proprietary analysis, which aggregates 8 technical signals, shows that 5 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for U stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, U is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Union (U) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.97 | 0.977 | 0.989 | 0.996 | 1.007 | 1.014 | 1.026 |
| Fibonacci | 0.977 | 0.984 | 0.989 | 0.996 | 1.003 | 1.007 | 1.014 |
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