India's Parliamentary Standing Committee on Finance met Binance, WazirX, and ZebPay today for a closed-door hearing on virtual digital asset regulation, with hopes for a 'Crypto Tax 2.0' reform.
India’s Income Tax Department has aligned with the RBI on crypto risk, using data from 49 FIU-registered exchanges to check 1% TDS records against annual tax filings as scrutiny intensifies.
As India seeks public input for the 2026–27 Union Budget, CoinDCX CEO Sumit Gupta has called for lower TDS, fairer capital gains taxation, and loss set-off to strengthen the country’s crypto market structure.
India’s CBDT has issued more than 44,000 notices to crypto traders and identified ₹888 crore in undisclosed income, using 1% TDS data and direct reporting from platforms to tighten enforcement.
India’s crypto regulations have become stricter following the 2019 Pulwama attack, with 30% tax and tight KYC rules. No direct link to crypto found, but security concerns drove policy.
Statista projects India’s crypto user base will rise from 93 million in 2023 to 127 million in 2026, while market revenue is expected to hit $10.4 billion despite a 30% tax and 1% TDS regime.
Indian exchange CoinDCX launches CoinDCX Zero with zero brokerage on crypto options, aiming to ease tax burdens. Founder Sumit Gupta hints at AI-driven features and an internal Crypto×AI hackathon.
Binance still lacks direct INR spot pairs despite FIU-IND registration. The key hurdles are banking integration and RBI rules. Watch for bank partnerships, TDS cuts, and SEBI circulars in 2026 as potential triggers.
