Indian Crypto Industry Mulls Supreme Court Move as Tax Break Expectations Disappear

Earlier this year, Indian Finance Minister Nirmala Sitharaman had announced a 30% capital gains tax on crypto, a 1% tax deducted at source (TDS), no offsetting of losses, and taxes on gifts too. There were some expectations that the government could look at easing some of the burden on crypto gains, but those expectations are all but gone. However, there is still a glimmer of hope that the 1% TDS could be reduced.