The government’s decision to impose a 1% tax deducted at source on crypto transactions is set to trigger another tax complication in the form of an equalization levy for crypto currency exchanges. Tax experts said that because in most cases crypto assets bought by Indian residents through exchanges are from people not based in the country they said, the Equalization levy is applicable to foreign players and when services are sold by non-Indians too. Such kinds of taxes could bring a huge violation in the world of media and technology.
Atiya Liaquat Ali
Kech