Will India see a reduction in TDS tax that currently exist in crypto?

The taxation on crypto should also be at par with other businesses, the TDS should be reduced from 1% to 0.01 %, and set off of losses should be allowed.

The government and other stakeholders to promote awareness about the benefits and risks of crypto, and align stakeholders on comprehensive regulations around Web3 technology.

Read more at:

https://economictimes.indiatimes.com/markets/cryptocurrency/budget-2024-will-india-see-a-reduction-in-tds-and-other-taxes-that-currently-exist-in-crypto/articleshow/111899067.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Originally posted by: Viswasruti

The taxation on crypto should also be at par with other businesses, the TDS should be reduced from 1% to 0.01 %, and set off of losses should be allowed.

The government and other stakeholders to promote awareness about the benefits and risks of crypto, and align stakeholders on comprehensive regulations around Web3 technology.

Read more at:

https://economictimes.indiatimes.com/markets/cryptocurrency/budget-2024-will-india-see-a-reduction-in-tds-and-other-taxes-that-currently-exist-in-crypto/articleshow/111899067.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

I don't think they will reduce this tax. On the contrary they may increase it.

Budget 2024 had no changes for taxes in the crypto sector; analysts had however expected reduction in TDS rates

Crypto Tax Rate in IndiaIn India, you'll pay a 30% tax on profits from trading, selling, or spending cryptocurrency.
Additionally, a 1% TDS is applicable on the sale of crypto assets exceeding ₹50,000 (₹10,000 in certain cases) within a single financial year.