@eliasyy
India's high crypto tax policy, with a 30% capital gains tax and 1% TDS on transactions, has significantly impacted the market. Introduced in 2022, these stringent measures have driven trading volumes from domestic to offshore exchanges, with foreign platforms capturing 67.6% of India's crypto market share by October 2022. The high taxes and inability to offset losses have pushed investors toward decentralized exchanges and P2P networks, fostering a grey market to evade taxes. This shift risks regulatory non-compliance, with potential penalties up to 100% of TDS value. While aimed at transparency, the policy may stifle innovation and drive talent abroad, prompting calls for reform to balance regulation and growth.
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