Apart from reducing the tax deducted at source (TDS) rate on crypto's transfer from the current 1 per cent to 0.1 per cent, the Centre must set up a regulator for the industry much like the Securities and Exchange Board of India (Sebi) in the upcoming Budget 2023, experts told Business Standard.
Currently, a person is mandated to pay a 30 per cent tax on withdrawal and an additional 1 per cent TDS on the transfer of crypto assets in India. It was introduced in the last Budget by Finance Minister Nirmala Sitharaman.
"Through our representation for the
First Published: Jan 17 2023 | 6:52 PM IST