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CoinDCX CEO Expects A Cut In India’s Crypto Tax Rate After 2024 Elections

Sumit Gupta, CEO and Co-Founder of CoinDCX, a prominent Indian crypto exchange, recently expressed optimism for crypto tax reform in India. Despite no immediate relief in the Interim Budget for high TDS and crypto tax rates, Gupta remains hopeful for positive changes in the final budget after the elections.

In a recent post on X, Gupta highlighted the challenges posed by the current crypto tax rate of 30% and 1% TDS.

He added the #reducecryptotax to his post to keep the trend alive. Moreover, he emphasized the potential migration of Web3 builders and consumers beyond Indian borders, posing a threat to the emerging Web3 startup ecosystem in the country.

He actively voiced concerns to key stakeholders and seeks a more conducive environment for the industry.

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