Majority want lower taxes, loss set-off, and clear regulations.
With the Union Budget approaching, crypto taxation has come back into focus again. A recent survey by CoinSwitch has revealed that a majority of crypto users, around 66 per cent of those surveyed, view India’s prevailing crypto structure as unfair. The survey, conducted across India with nearly 5,000 respondents, showed that 88 per cent of respondents were aware of the country’s crypto taxation rules, including the 30 per cent tax on gains in crypto assets, 1 per cent deduction of tax at source (TDS) on crypto transactions, as well as the absence of loss set-off or carry-forward provisions.
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