India Maintains Crypto Tax Framework, Rejects Industry Appeals
- Tax Policy Stability: The Indian government has decided to maintain its existing cryptocurrency tax framework, including a 30% capital gains tax and a 1% transaction tax, demonstrating a firm stance on digital asset regulation despite industry calls for tax relief, which will continue to impact domestic trading liquidity.
- Enhanced Compliance: Effective April 1, 2025, the government will implement a new penalty structure, imposing a daily fine of 200 Indian Rupees for improper reporting and a substantial penalty of 50,000 Rupees for false declarations, increasing the compliance burden on traders and potentially raising operational risks for smaller platforms.
- Strong Industry Reaction: The domestic crypto industry has expressed strong dissatisfaction with the 1% transaction tax, arguing that it drains liquidity and drives trading volumes to offshore platforms, with industry groups stating that the government prioritizes revenue collection over ecosystem growth.
- Global Regulatory Context: India's tax policy occupies a middle ground in the global crypto regulatory landscape, allowing trading under stringent fiscal surveillance, which may affect domestic investor activity and the government's stance could influence future international cooperation and investment inflows.
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Technical Analysis for U
Technical Sentiment Analysis for Union (U) As of , Union (U) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 10 technical signals, shows that 7 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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