In addition to specifying a 30 percent tax rate, the Budget also mandated an additional 1 percent TDS to be levied on crypto transactions that exceed a certain limit, with the intention of establishing a record trail
The announcement was met with a mixed bag of industry responses- some muted, some positive, but all of them calling out for further clarity on its nuances in the days to come.
Budget 2022 | The Budget also sought to increase the tax deduction limit to 14 percent specifically on employer's contribution to the National Pension System account of state and central government employees.
Budget 2022: With the government's renewed focus on ease of living, a simplification of the tax regime, particularly for salaried taxpayers, could be on the cards.