Will Indian Govt. Lower The Taxes In Crypto?

March 26, 2022

Indian crypto investors will have to pay tax for buying, selling, and giving crypto gifts. Tax deduction at source (TDS) will come into effect from July 1, 2022.

In Parliament House, members are debating on "crypto bill". Sitharaman justified the situation by highlighting "crypto bills, taxing crypto and TDS."

The TDS is for more tracking but not the additional tax. The government is reconsidering whether to regulate the tax or totally ban it.

The Finance Minister of India, Nirmala Sitharaman highlighted how the Russia-Ukraine war has affected other countries. In response to a discussion she justified the budget proposal as follows: