Budget 2025: Crypto Industry Pushes for Lower Taxes and Regulatory Clarity
Budget 2025: Crypto Industry Seeks Lower Taxes, Loss Offsets, and Clear Regulations
The Indian cryptocurrency industry is anticipating the upcoming Budget 2025 with optimism, hoping for reforms that address taxation and regulatory clarity in the wake of a challenging year. Events such as the $230-million WazirX hack and a global crypto rally have highlighted the sector’s vulnerabilities and opportunities.
Key Industry Demands
- Tax Reforms
- Lower TDS and Rationalized Taxation:
- Industry body Bharat Web3 Association (BWA), representing platforms like WazirX, Coinbase, CoinSwitch, and CoinDCX, advocates reducing the Tax Deducted at Source (TDS) rate on virtual digital assets (VDAs) to 0.01%.
- They recommend aligning…
- Lower TDS and Rationalized Taxation:
