India holds ground on crypto tax, cuts jail time for defaults
Amid crypto investors’ persistent outcry and the loss of billions in crypto trading volume to offshore platforms in recent years, India stood firmly on its decision to maintain the punitive 30% flat tax and 1% Tax Deducted at Source (TDS) rates it imposed in February 2022.
Since the enactment of India’s broad crypto tax framework, local investors have pressured the government to abolish, or at the very least, reduce the 30% tax on gains from crypto transactions that have crippled…
