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India’s Tax Authority Pushes to Reshape Crypto Framework: Tax, Regulatory Clarity, Administrator Agency
India’s Tax Authority Pushes to Reshape Crypto Framework: Tax, Regulatory Clarity, Administrator Agency
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BTCCSquare news:
India’s Central Board of Direct Taxes (CBDT) is scrutinizing the country’s crypto tax regime, particularly the 1% tax deducted at source (TDS) on VIRTUAL digital asset (VDA) transactions. The stringent tax policies, including a 30% levy on crypto profits and 18% GST on platform fees, have driven many exchanges to relocate to jurisdictions like Dubai.
Industry stakeholders argue the 1% TDS has stifled trading volumes on domestic platforms, with proposals to reduce it to 0.01% rejected by authorities. Regulatory ambiguity persists around derivative trading and cross-border transactions, compounding challenges for market participants.
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