India's Crypto Industry Anticipates Key Changes in Upcoming Union Budget 2024
India's cryptocurrency industry is eagerly anticipating changes in the upcoming Union Budget for 2024 that could impact the sector's growth. One of the main concerns is the high Tax Deducted at Source (TDS) rate of 1%, which puts India at a disadvantage compared to other countries. Industry leaders are proposing a reduction of the TDS to 0.01% and the establishment of a self-regulatory body for the crypto and blockchain sector. They also hope for specific domestic regulations and funds for domestic blockchain projects to encourage digital asset trading within Indian jurisdiction.
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