Union Budget 2024 Expectations: Seeking A Sustainable Path For Crypto Taxation

OPINION: This government has taken a very practical approach to crypto. It has also shown a willingness to re-align its policies when data is presented.

The proposal to reduce crypto TDS rate to 0.01 per cent aims to balance the need for transaction tracking with the sector's growth.

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2024 promises to be the year that digital innovations such as AI, VR, and crypto will reshape entire industries and economies. India, however, stands at a crossroads with its approach to crypto taxation. The current tax framework, while aiming to monitor the sector, raises critical questions about its alignment with the nation's broader economic goals. This article delves into the complexities and consequences of the existing tax laws on cryptos and the pressing need to relook at tax rates in