A recent report from TKF has shed light on a significant issue in India's crypto taxation landscape, revealing a staggering uncollected Tax Deducted at Source (TDS) amounting to around 11,000 crore since the tax was introduced in July 2022. The publication provides the following information: this situation raises alarms about potential revenue losses, particularly from offshore exchanges that have not complied with the tax regulations.
Призыв к более тонкому подходу к политике
The Bharat Web3 Association has called for a more nuanced policy approach to tackle the challenges posed by uncollected TDS and to bolster the growth of onshore crypto platforms. They argue that without effective measures, the Indian government risks losing substantial revenue that could be generated from the burgeoning crypto sector.
Рекомендации CEO CoinDCX
In addition, CoinDCX CEO Sumit Gupta has put forth several recommendations aimed at refining India's crypto policy. Among his proposals are:
- the establishment of a standardized TDS rate
- the implementation of progressive taxation
Gupta believes, что это создаст более благоприятную среду для инвесторов и бизнеса в криптопространстве. Его предложения подчеркивают неотложную необходимость в регуляторной ясности для содействия инновациям при обеспечении соблюдения норм.
The recent report on India's crypto taxation highlights significant challenges, while the Solana Policy Institute has taken action by urging the SEC to clarify regulations for DeFi developers. For more details, see read more.
