

TBH being indian i strongly oppose the crypto taxation imposed by indian govt in 2022 flat 30 % tax on any profit generated through VDA or crypto + 1 % TDS with no loss setoff even if you earn 0.10$ profit or 1 million $ profit if you are indian you are liable to pay 30% tax on your crypto profits and file in ITR form.. people have been demanding and filing petition to govt to atleast lower the TDS from 1 % to 0.1% but it seems we are unlikely to see any changes in crypto tax for indians..
"I don't foresee the 1% TDS being reduced in the near term, despite it being necessary," said Punit Agarwal, founder of crypto taxation platform KoinX. "The current rate leads to capital flight to international exchanges and DEXs, ultimately causing a loss to the government."
Currently today in parliament indian budget is getting discussed and i feel many MPs have keen interest in crypto it would be interesting to see whether crypto topic gets discussed or not.. imo its highly unlikely..
Other demands include establishing progressive taxes on gains instead of the flat 30% rate, and allowing losses to offset gains. They have also pushed for multi-agency regulation.
Despite the surprise election result introducing the need to satisfy coalition partners and last week's $230 million hack of crypto exchange WazirX, which may have pushed crypto down the list of priorities, BWA officials said they are hopeful that at least one of their three requests would receive favor.