Budget 2026 wishlist: TDS cut, tax relief and clarity for crypto assets
As Budget 2026 nears, India’s crypto industry is asking the government to ease existing tax rules introduced in 2022. Industry players say the 1 percent tax deducted at source (TDS) and 30 percent tax on gains have driven traders to offshore platforms and reduced activity in India.
They believe simpler taxes and clearer rules, allowing loss set-offs against crypto gains, and a much-awaited policy on virtual digital assets (VDAs), will bring users back to Indian exchanges, improve compliance, and support the responsible growth of the digital asset sector.
Reduction in TDS on crypto transactions
Currently, there is a 1 percent Tax Deducted at Source (TDS) on every transaction, which locks up the capital of traders. The industry…
