India Expected to Keep Existing Cryptocurrency Tax Rates in New Budget
India's 2024-2025 Budget: A Critical Point for the crypto Industry As India gears up for the unveiling of its 2024-2025 budget by Finance Minister Nirmala Sitharaman, all eyes are on the future of the country's financial directions—especially in the rapidly evolving world of cryptocurrency This budget announcement is especially significant, marking the first since Prime Minister Narendra Modi led his party into a third consecutive term in office However, with the Bharatiya Janata Party (BJP) not securing a majority and consequently forming a coalition government, the new political dynamics could heavily influence fiscal policies, including those impacting the crypto sector The TDS Policy in Focus One of the most pressing concerns for the burgeoning cryptocurrency industry in India is the government's stance on the tax-deducted-at-source (TBD) policy regarding crypto transactions Currently, a 1% TDS is levied, a policy that has stirred significant debate and concern among industry stakeholders...
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