India Considering 20% Tax on DeFi on Top of 30% Tax on Gains

Reports have emerged saying that the Indian tax department is considering imposing an additional 20% tax deducted at source on DeFi, as well as an equalization levy. India already imposes a 30% tax on crypto gains and an additional 1% tax deducted at source. Other countries are also looking at exerting control over DeFi, but no effective measures have been implemented yet. The Indian government is taking further action against the crypto market, this time turning its taxation scheme to […]