Sunday, January 29, 2023
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Indian Crypto Trading Volumes Plummet After New TDS Tax Rule Takes Effect – Exchanges Bitcoin News

Cryptocurrency trading volumes across exchanges in India have plunged after the country’s 1% tax deducted at source (TDS) went into effect at the beginning of the month. Some major crypto exchanges saw volumes dropping by about 80%. Crypto Trading Volumes Fall Across India The trading volumes across crypto exchanges in India

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Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider – Taxes Bitcoin News

An Indian parliament member has warned that imposing a 1% tax deducted at source (TDS) on every crypto transaction will kill the nascent asset class. This tax provision is contained in Finance Bill 2022 which Lok Sabha, the lower house of India’s parliament, has passed. However, India’s finance minister insists

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