Budget 2025 for crypto: 30% tax on gains to continue even as regulatory oversight tightened – Cryptocurrency News
Budget 2025: The 30 per cent tax on crypto gains and 1 per cent TDS on transactions will continue to be levied as Finance Minister Nirmala Sitharaman skipped crypto from her budget speech. However, she proposed amending the Income Tax Act for entities including crypto exchanges to disclose transaction details related to crypto assets, strengthening the compliance requirements for the crypto stakeholders.
“It is proposed to bring amendment in the Act to provide for that a prescribed reporting entity in respect of a crypto-asset shall furnish information in respect of a transaction in such crypto asset, in a statement as prescribed. It is also proposed to align the definition of virtual digital asset accordingly,” Sitharaman…
