LockMeta
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
Twitter Telegram
LockMeta
Twitter Telegram
Google News
  • Latest News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
LockMeta
News

Indian crypto industry representatives call for reduction of certain tax rules

May 20, 2022
Share Facebook Twitter Telegram WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

Indian crypto ecosystem players are increasingly calling for a reduction in tax deductions (TDS) at source for crypto transactions.

The 2022-23 Union Budget has approved 1% TDS for virtual digital assets. Industry representatives, arguing that this too high would drive traders away from the market and hurt volume, called for it to be lowered to the 0.01% to 0.05% range.

The Indian government is planning a stricter tax environment for crypto businesses, with media reports last week that the Indian tax authority is planning to put crypto activities under the GST sector of up to 28%, which is typically used for non-essential and extravagant goods. Activities such as betting, gambling and horse racing.

Previous ArticleCrypto.com’s DeFi Wallet adds AVAX-TUSD support
Next Article The NEAR Foundation invites the Terra community to join the NEAR ecosystem

Related News

February 5, 2023

The Ethereum expansion project Scroll improved the v2 bridge and ZK architecture this week

February 5, 2023

SHIB rises 13% on Saturday, hits 4-month high

February 5, 2023

The Arbitrum ecological stable currency project SperaxUSD was attacked yesterday

February 5, 2023

Yuga Labs has removed wallet “0x3977″‘s DooKey Dash game high score, Mongraal is back on top

February 5, 2023

Bitcoin and Ethereum Whales Move $743 Million in Crypto in Three Massive Transfers

February 4, 2023

Morgan Creek Capital CEO: The next crypto bull market may start in the second quarter of 2023

February 4, 2023

Bitcoin Price Could Hit $45,000 Before Christmas

February 4, 2023

FTX-Backed NFT Company Limit Break Launches $6.5M Super Bowl Commercial

The Latest
Ethereum News February 5, 2023
The Ethereum expansion project Scroll improved the v2 bridge and ZK architecture this week
Altcoin News February 5, 2023
SHIB rises 13% on Saturday, hits 4-month high
Altcoin News February 5, 2023
The Arbitrum ecological stable currency project SperaxUSD was attacked yesterday
Business News February 5, 2023
Yuga Labs has removed wallet “0x3977″‘s DooKey Dash game high score, Mongraal is back on top
Ethereum News February 5, 2023
Bitcoin and Ethereum Whales Move $743 Million in Crypto in Three Massive Transfers

LockMeta provides the latest crypto news flash including Bitcoin, Ethereum, Altcoins, NFTs, Metaverse, Business and Policy. Get today's latest crypto news in a minute.

Twitter Telegram
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
  • About Us
  • Contact Us
  • Advertise
  • Terms of Service
  • Privacy Policy
© 2023 LockMeta.

Type above and press Enter to search. Press Esc to cancel.