India’s Crypto Tax Landscape: Navigating the Challenges
It feels like a minefield out there, right? India’s crypto taxation landscape is a tricky one, with a solid 30% capital gains tax and a 1% TDS hanging over traders. But, hey, there’s some good stuff to glean from India’s playbook for other countries looking to get their crypto game on.
Key Takeaways from India’s Crypto Tax System
First up, India has established a clear classification for cryptocurrencies as Virtual Digital Assets (VDAs) under the Income Tax Act. This clarity helps define tax obligations and regulatory oversight. Other regions would do well to follow suit.
And then, there’s the flat tax rate at 30% on profits from trading, selling, or spending crypto. It doesn’t matter how much you earn, everyone gets taxed the…
