The Indian government has introduced new crypto tax penalties. cryptocurrency bitcoin TDS
The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source . Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%.
Sathvik Vishwanath, CEO of Indian crypto exchange Unocoin, wrote: “There was no mention of crypto or blockchain in Budget this time. It has been a year since the announcement of 1% TDS was done and we all thought it would affect the industry. It did! Now we need reviving amendments.”
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