The introduction of 1% TDS in 2022 has led to an estimated loss of $420 million in potential government revenue due to migration of Indian crypto traders to overseas platforms.
Govt seems to regard crypto transactions in the same manner as alcohol consumption which is considered bad for the consumers, but good for tax revenue.
Centre takes the first step towards legalising crypto by taxing gains at 30%. Here's what it means for investors.
While taxing cryptocurrencies at the high rate of 30% is debatable, it cheered industry which has been waiting for clarity on regulations since long.
