Will India see a reduction in TDS tax that currently exist in crypto?

The taxation on crypto should also be at par with other businesses, the TDS should be reduced from 1% to 0.01 %, and set off of losses should be allowed.

The government and other stakeholders to promote awareness about the benefits and risks of crypto, and align stakeholders on comprehensive regulations around Web3 technology.

Read more at:

https://economictimes.indiatimes.com/markets/cryptocurrency/budget-2024-will-india-see-a-reduction-in-tds-and-other-taxes-that-currently-exist-in-crypto/articleshow/111899067.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Originally posted by: Viswasruti

The taxation on crypto should also be at par with other businesses, the TDS should be reduced from 1% to 0.01 %, and set off of losses should be allowed.

The government and other stakeholders to promote awareness about the benefits and risks of crypto, and align stakeholders on comprehensive regulations around Web3 technology.

Read more at:

https://economictimes.indiatimes.com/markets/cryptocurrency/budget-2024-will-india-see-a-reduction-in-tds-and-other-taxes-that-currently-exist-in-crypto/articleshow/111899067.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Budget 2024 had no changes for taxes in the crypto sector; analysts had however expected reduction in TDS rates

Crypto Tax Rate in IndiaIn India, you'll pay a 30% tax on profits from trading, selling, or spending cryptocurrency.
Additionally, a 1% TDS is applicable on the sale of crypto assets exceeding ₹50,000 (₹10,000 in certain cases) within a single financial year.

Budget 2025: Income tax on cryptocurrency transaction. After Budget 2025 there is no change in taxation of cryptocurrencies as they continue to be taxed at 30% rate with applicable surcharge and cess. Moreover, 1% TDS on crypto transactions above Rs 10,000 for salaried and Rs 50,000 for business transactions will apply.