TDS on Cryptocurrency in India: Income Tax Guidelines for Cryptocurrency Transactions: Watch here

New Delhi: Following the imposition of a 30% tax on capital gains from crypto transactions, as well as the anticipated 1% tax deduction at source (TDS), the Indian government may now consider imposing its goods and services tax (GST) on such transactions as well. According to Bloomberg, a ministerial panel is likely to convene next week to consider the tax. The panel will be made up of finance ministers from the country’s federal and state governments, generally known as the group of ministers (GoM). It will convene for two days beginning June 28 in the Northern Indian state of Chandigarh. To be sure, the tax will not be finalised during the conference.