News From Press After 30% tax rate, cryptocurrency assets to bear 1% TDS. How taxes impact crypto gains

After 30% tax rate, cryptocurrency assets to bear 1% TDS. How taxes impact crypto gains

Source: Mint Jun 27, 2022

The much-needed clarification on taxation on cryptocurrency assets in India has been provided. After the 30% tax rate, now cryptocurrency investors will also face a 1% tax deducted at source (TDS) on their assets. However, experts believe that cryptocurrency assets should be treated fairly like other asset classes for overall industry growth. In long term, crypto investors may struggle in hedging liquidity in this market.

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