The tax, a form of income tax known as TDS, has prompted as many as 5 million crypto traders to move their transactions offshore, and has cost the government a potential $420 million in revenue since it was introduced in July, 2022, according to the study by the Esya Centre.
India’s Controversial TDS Crypto Tax Should Be Cut if the Government Wants to Boost Revenue, Transparency, Esya Centre Urges
