India has collected 10.96 billion rupees in tax deducted at source (TDS) from cryptocurrency transactions over the fiscal years 2023 to 2025. Maharashtra emerged as the leading contributor, accounting for 60% of the total TDS collected. This significant tax collection comes amid the discovery of over 10 billion rupees in undisclosed crypto income, highlighting the government's intensified regulatory scrutiny. Despite the implementation of stringent tax rules in 2022, cryptocurrency activity in India remains robust. In a move to enhance transparency and combat financial crimes, virtual asset service providers are now required to register with the Financial Intelligence Unit of India (FIU-IND). This aligns with international regulatory frameworks such as the Markets in Crypto-Assets (MiCA) regulation, aimed at improving transparency and countering the financing of terrorism (CFT).
India Collects 10.96 Billion Rupees in Crypto TDS, Maharashtra Leads
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