India’s Crypto Tax Haul Hits ₹700 Crore in Just 2 Years – Will the 1% TDS Finally Get Slashed?
India's crypto tax regime just crossed a staggering ₹700 crore milestone—extracted from traders in under 24 months. Now, whispers of relief swirl as regulators debate cutting the controversial 1% TDS chokehold.
The Taxman Cometh (And Keeps Coming)
No one escapes the tax dragnet—not even decentralized dreamers. With every trade, India skims its cut, fueling a ₹700 crore state coffers boom since 2023. Critics call it innovation stifling; the finance ministry calls it 'revenue optimization.'
TDS on Trial
That 1% transaction levy? Traders say it’s kneecapping liquidity. Exchanges report plunging volumes as users flee to offshore platforms—because nothing says 'patriotic investing' like routing trades through Dubai for better margins.
Will the Axe Fall?
Pressure mounts for reform. Pro-crypto lobbyists argue lower TDS could recapture lost volume—and taxable revenue. But bureaucrats move at blockchain speeds (read: glacial). One insider muttered, 'Why fix what’s already filling vaults with ₹700 crore?'
The Bottom Line
India’s crypto taxes: a masterclass in monetizing frustration. Whether the TDS gets trimmed or not, one truth remains—governments tax, traders adapt, and the ledger never lies.
Let’s be honest—when most Indian cryptocurrency users heard “30% charge plus 1% TDS”, they thought trading was doomed. But here we are, just two years later, and India crypto tax collections have already crosse... Read More
