The Indian government has introduced new crypto tax penalties, including for non-payment of crypto tax deducted at source (TDS). Much to the disappointment of the crypto community, Finance Minister Nirmala Sitharaman did not mention crypto in her Budget speech this year. Crypto income remains taxed at 30% while TDS stays at 1%. No Crypto Tax Relief in India Indian Finance Minister Nirmala Sitharaman presented the Union Budget 2023 in parliament Wednesday, one day after she presented this year’s Economic Survey which highlighted the need for “a common approach to regulating the crypto ecosystem.” Much to the disappointment of the Indian crypto community, Sitharaman made no mention of crypto during her Budget speech. Following her speech, many Indian crypto proponents took to Twitter to voice their opinions. Neeraj Khandelwal, co-founder of crypto exchange Coindcx, tweeted: No changes to crypto taxation in India in the Budget Session. It stands at 1% TDS and 30% on profits. This p...
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