This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
🚨🇮🇳 BIG MOVE FOR INDIA’S CRYPTO SCENE! 🚨
The Central Board of Direct Taxes (CBDT) has officially reached out to crypto exchanges for feedback.
Why this matters:
🔹 1% TDS rule is making trading costly & unattractive.
🔹 30% flat tax (no loss offset) pushing traders to foreign exchanges.
🔹 Govt losing visibility + tax revenue as activity shifts offshore.
🔹 Industry demanding clarity on whether crypto should fall under existing tax laws or a new framework.
⚡️This is the first time the government is openly engaging with the industry.
👉 Could India finally be on the path to a friendlier crypto tax code? 🤔