ExchangeIndia
Indian Exchanges Report Higher Volumes After Tax Clarity
CoinTelegraph
Several Indian cryptocurrency exchanges have reported an uptick in trading volumes after clearer guidance emerged around the taxation of virtual digital assets. Platforms attribute part of the change to improved understanding of the existing 30% tax on gains and the 1% tax deducted at source on transactions, which has encouraged some users to return to compliant, domestic venues rather than offshore alternatives. Exchanges are expanding built-in tax-reporting features to help users track transactions and prepare filings.
Key Takeaways
- Tax clarity is linked to higher domestic exchange volumes.
- Exchanges are adding tax-reporting tools for users.
- Industry continues policy talks on TDS and loss set-off.
Summary generated by IndiCrypto from CoinTelegraph. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.