Months of lobbying by Indian and global crypto firms to see if the local tax laws will provide some leeway proved futile. The Indian Finance Minister, in her budget speech for the 2023-24 fiscal, did ...
Tag: TDS
Penalty and Jail Under Indian Budget 2023 for Failure to Pay TDS
3 hours ago | 2 mins read Blockchain News TDS penalty introduction has an effect on the crypto sector. The year 2022 is described as a “period of pain” for crypto in India. Indian Finance Minister, Ni...
India should reduce TDS on crypto trade in the 2023 budget
Cryptocurrency in India is going through a process of legal identification. There is little surety if the country will legalize the digital currency considering that the digital rupee has started circ...
Low TDS Collection on Crypto May Spur Indian Government to Reduce Transaction Tax
A junior finance minister told the Indian parliament on Tuesday that the government has collected about $7.4 million in TDS on crypto transfers since July 1. Given the low numbers, the government may...
1% TDS on Crypto in India. Here’s Everything You Need to Know
The one percent crypto tax deducted at source (TDS) rule for cryptocurrency transactions, which went into effect on July 1, 2022, has resulted in a dramatic decline in trading volume on Indian exchang...
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 sa...
Crypto Volume On Indian Exchanges Drops By More Than 70% After 1% TDS Rule
Trading volume on crypto exchanges in India has taken a large hit of more than 70% since the start of the 1% TDS rule. Crypto Trading Volumes On WazirX, ZebPay, And CoinDCX Decline 70% Or More As repo...
New TDS Rules, An Issue For India Crypto Investors? – Coinpedia – Fintech & Cryptocurreny News Media
The rules regarding Tax deductible at source (TDS) on virtual digital assets (VDAs) and cryptocurrencies are effective from July 1, 2022. According to the rules, it is mandatory for the buyer of VDA t...
India’s crypto exchanges welcome clarification on new TDS rules — Quartz India
The Indian government has brought in some much-needed clarity—and cheer—in the matter of taxing digital token transactions. The union budget for 2022-23 had declared a 30% tax on income from cryptocur...
Crypto Tax TDS Percent in India Rectified After Typo on Income Tax Website
4 hours ago | 2 mins read Altcoin News Several cryptocurrency platforms and investors took to social media to debate the issue. As of July 1, 2022, a 1% TDS will be applied to virtual digital assets. ...
Indian Crypto Exchanges Demand Reduction In Tax Deduction at Source (TDS) ⋆ ZyCrypto
Advertisement     CoinDCX Co-founder and CEO Sumit Gupta has once again demanded that the 1% Tax Deduction at Source (TDS) on crypto transactions introduced through th...
Indian Crypto Industry Reps Call for Reduction in Certain Taxation Rules Indian Crypto Industry Reps Call for Reduction in TDS
The call for reducing Tax Deduction at Source (TDS) on crypto transactions is intensifying among the crypto ecosystem players in India. A TDS of 1% on virtual digital assets has been approved by the U...
India crypto company wants to reduce the TDS imposed by the government
Recently, the leading exponents of the crypto industry in India, such as CoinDCX, spoke out to discuss the TDS rates. The South Asian country is again in the crypto spotlight after its tax rate was we...
Indian Government To Clarify the 1% TDS on Crypto Transactions Law – crypto.news
According to a recent report, the Indian government plans to provide procedural clarities on the tax rules they released just a few weeks ago. After one of the tax provisions, the tax-deductible at th...
Parliament Member Says 1% TDS Will Kill Crypto Asset Class in India, Urges Government to Reconsider – Coinotizia
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 20...
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 20...
India: Will crypto volumes ‘drop off the cliff’ after the 1% TDS proposal
India Finance Secretary T.V. Somanathan had told media outlets last week that crypto taxation is kept next to winnings from horse races, or bets and other speculative transactions with the proposed 30...