India will introduce a 30% tax on crypto-asset gains from April 1st.
India, following discussions of crypto regulations in the country, JB Mohapatra, chairman of the Central Board of Direct Taxes (CBDT), said that from April 1 this year, cryptocurrency and virtual asset gains will be taxed 30% in the country. The tax application in question was approved by the government. For the 1% tax deducted at the source, the date of 1 July was indicated.
With the app, India will be one of the few countries to impose taxes on digital assets such as crypto assets and NFTs.
However, some crypto communities urged the government to reconsider the planned 1% source tax and suggested reducing the rate to 0.01%.
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