Indian Government Could Levy TDS/TCS on Crypto Trading in Budget 2022
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In the upcoming Budget 2022, the Indian government is debating whether or not to impose a tax deduction at source (TDS) or tax collection at source (TCS) on the trade of cryptocurrencies. It is anticipated that the government will see an increase in revenue due to this action, and the fast-expanding cryptocurrency sector in India will be subject to regulation. In the following paragraphs, we will go over the ramifications of this judgment and its possible effects on the cryptocurrency trading business.
Introduction
Bitcoin, Ethereum, and several other digital currencies have recently entered the mainstream as investment options, which has led to a tremendous increase in both their popularity and value in the cryptocurrency market in recent years. Yet, go...