India, Dec. 26 -- The government's tax deducted at source (TDS) on so-called virtual digital assets (VDA) rose more than 41% to Rs.511.83 crore in 2024-25 as compared to Rs.362.70 in the previous fiscal year. The highest TDS came from crypto exchanges based in Maharashtra at Rs.293.40 crore in 2024-25, followed by Karnataka (Rs.133.94 crore), and Gujarat (Rs.28.63 crore), according to the finance ministry. The 2022-23 Budget made a 1% TDS mandatory on the transfer of cryptocurrencies or VDAs. P16
Published by HT Digital Content Services with permission from Hindustan Times....