India's 1% TDS on crypto transfers generates $19 million in 9 months

Market Trends

On the transfer of virtual digital assets, the Indian tax authorities received TDS in the amount of Rs. 158 crore (VDA)

Starting on July 1, 2023, a 1% TDS will be taken out.

India has 150 million cryptocurrency users, according to the most recent Statista data.

India's adoption rate of cryptocurrencies may surpass that of the UK and the US by the end of 2023.

By the end of 2023, the influential economic group will have implemented some sort of legislation for the bitcoin industry.

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