It is not every day you hear about a 77-year-old Indian business-shifting gears to embrace Bitcoin. But that is exactly what Jetking, a name that is once known for making radios and televisions in India, has done.
The company, which later went to IT education, was confronted with difficult times during the COVID-19 Pandemie. While the world was closed, Jetking’s 200 centers saw things drying up throughout India. Forced to reconsider their future, the leadership investigated around 15 different ideas to breathe new life into the company.
In the end they made a big move: transform into a Bitcoin-Central company.
In an interview with Coinpedia, CFO Siddarth Bharwani said: “Jetking’s decision to keep Bitcoin and a treasury chistactactive, had both symbolic and financial implications, the move led to an interest of a new class of investors, in particular younger or technical-Savvy retailbelegbles By the end of 2025, the company wants to hold 210 Bitcoins.
Navigating by the 30% Crypto tax of India
The strict 30% tax on Crypto -win from India has not made it easy. But Jetking has taken a different route.
“We follow a ‘never Sell Bitcoin’ strategy,” explained Bharwani. This means that the company does not realize a profit on its Bitcoin interests, which avoids taxable events. All changes in value are simply noticed as revaluation reserves in the financial reports.
Dealing with RBI’s Crypto -Been
The Reserve Bank of India (RBI) has repeatedly expressed concern that crypto is used for illegal cross -border transfers, such as Hawala. Jetking says it takes these worries seriously and uses a compliance first approach.
All Bitcoin is purchased through regulated, FIU-registered fairs and stored with preservators of institutional quality that KYC and AML controls follow.
Hope for better crypto laws in India
While India is working on a formal set of crypto rules, Jetking hopes for fairer regulations. The company supports government supervision, but wants a shift from the flat load from 30% to a Grad capital profit model based on how long crypto is held.
“We expect shift from a flat load of 30% on profit to a Grad power gain tax model based on the holding period. Switch the transport and compensation of losses possible, as is the case with other financial assets and GST exemption or clarity when Crypto Puur is used as a treasury reserve, not as payment or service,” they refer.