New Delhi, Dec. 9 -- The government has collected Rs.5.12 billion as tax deducted at source (TDS) during 2024-25 (Apr-Mar) on transactions involving cryptocurrencies and other virtual digital assets, Minister of State for Finance Pankaj Chaudhary said on Monday.

The government imposes a flat 30% tax on profits earned from cryptocurrency transactions; it also levies a separate 1% TDS on the transaction value each time a digital asset is bought or sold.

The 1% TDS helps the tax department track transactions, while the 30% tax applies only to the gains made from them.

The TDS collected on such transactions jumped up 41% in FY25, from Rs.3.63 billion in FY24, according to Chaudhary's written response to a question raised in the Lok Sabha....