Govt collected over Rs 60 crore from crypto’s 1% TDS: MoS Finance
Crypto assets are by definition borderless and require international collaboration to prevent regulatory arbitrage. Government does not register foreign crypto exchanges, he added.Regarding 1% TDS mandate, the CBDT administers direct tax laws like the Income Tax Act, 1961, Prohibition of Benami Property Transactions Act, 1988, Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 etc, it added.
