India Unlikely to See Crypto Tax Reduction in Tuesday's Budget
Summary
India's Finance Minister is unlikely to change the 1% tax-deducted-at-source (TDS) policy on crypto transactions in the upcoming budget. The budget will consider demands from coalition partners and the crypto industry, including reducing TDS to 0.01%, progressive taxes on gains, and multi-agency regulation. Despite the election outcome and recent crypto exchange hack, the industry remains hopeful for favorable changes. The government's focus on stringent regulation suggests that a TDS rate reduction is unlikely.
