1% TDS on trading might be a Disaster for the Government

[pakhitheboss]

I recently came across a series of Tweets made by the WazirX CEO Nishchal Shetty in which he explained how the Government of India will lose million in crypto tax with 1% TDS on crypto trading. The calculation is very simple and you can read it below.




I do not think the government and the bureaucrats will give any heed to this calculation until the first year of crypto tax collection is over. In my personal opinion what Nischal has asked it genuine in place of 1% TDS it should be 0.1% TDS.