Amitoj Singh is a CoinDesk reporter.
India's Finance Minister Nirmala Sitharaman introduced an interim budget on Feb. 1, 2024, before the nation's elections between April and June.India's Finance Minister Nirmala Sitharaman kept crypto tax rules unchanged in her address announcing the nation's budget for 2024-2025 on Tuesday.
The primary demand from India's crypto industry was to reduce the controversial tax-deducted-at-source policy on crypto transactions from 1% to 0.01%. It made its representations to government officials with evidence from several sources, including athe government to establish progressive taxes on gains instead of the flat 30% rate, and allowing losses to offset gains. They have also
The budget is the first since Prime Minister Narendra Modi was elected for a third straight term. Modi's Bharatiya Janata Party This budget is being seen as a roadmap for his vision for the next five years, one that would consider the sentiment reflected in the unexpected election results.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin.
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