Crypto industry seeks tax cuts in Budget 2026
India's crypto sector is urging the government to ease up on taxes in the upcoming Union Budget 2026.
They're asking for the 30% flat tax on crypto profits and the 1% TDS on transfers above specified thresholds to be lowered, saying cumulative measures — the bespoke VDA tax regime introduced in Budget 2022 and subsequent enforcement steps, which industry says have increased compliance burdens — have made things tougher for both exchanges and users.
Why does it matter?
Lowering these taxes could make it easier for people to use regulated Indian exchanges instead of risky offshore platforms, while also helping legit businesses grow.
Industry leaders like CoinDCX's Sumit Gupta say a fairer, more consistent tax system would boost compliance and protect users.
Plus, updating India's crypto rules could put us on par with places like the US and Singapore—making things clearer for everyone involved.