India has strengthened its regulations on cryptocurrencies, maintaining a tax burden on traders despite growing volatility.
A new provision added to the definition of undisclosed income will cover virtual digital assets, including cryptocurrencies. This move aims to increase transparency and curb evasion.
The government has also decided not to provide any relief from taxes for trading cryptocurrencies, with the existing 1% tax deducted at source remaining intact.
Source: https://www.bloomberg.com/news/articles/2025-02-01/india-tightens-crypto-oversight-maintains-tax-burden-on-traders