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The Times of India
The Times of India
Business
PTI

Union Budget 2023: India should consider reducing TDS rate on cryptocurrency trade, says report

Crypto India New Delhi

NEW DELHI: India should consider lowering the 1 per cent TDS on crytocurrency trade as a high rate is causing a flight of capital and users to platforms in foreign jurisdictions and the grey market, a report said on Tuesday.

The 'Impact Assessment of 1 per cent TDS on VDAs' report by Chase India and Indus Law said the crypto platforms/exchanges must also perform customer due diligence which can help uncover any potential future risk.

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