Crypto Exchanges Seek Clarity on TDS

Crypto exchanges in India have sought clarity on the Budget’s proposed 1 per cent TDS on crypto transactions. For example, what is the role of exchanges? Will they take responsibility for tracking and reporting? Another complexity is when the buyer is not based in India. Finally, short-term traders would need clarity on how much of capital can be locked, as frequent traders may fall short of capital if 1 per cent TDS is deducted for every trade.