Due to Huge Adoption, Indian Government Earned $12M From Crypto Tax
India's CBDT has collected more than Rs 100 crore ($12 million) from one percent TDS on crypto transactions this fiscal year
The government's intention behind introducing TDS was to stop crypto investment, which failed because crypto adoption has increased in the country
Despite heavy taxes, crypto adoption has grown rapidly in India so much so that India is ranked No. 1 in the Chinalaysis Global Crypto Index