Finance Act 2022: 30% VDA tax and 1% TDS India
Views summarized; see sources.
- Government (BJP-led NDA) · Finance Minister Nirmala Sitharaman: Taxing crypto income is a sovereign right and is not a decision to legalise or ban it. TDS helps track transactions. The Hindu report on Lok Sabha debate
- Ruling party MP (BJP) · Nishikant Dubey: Raised RBI concerns about illicit use and favoured strict action, including a ban. MediaNama report on Lok Sabha debate
- Opposition (INC) · Gaurav Gogoi: The government is sending mixed signals and should set a clear policy. MediaNama report on Lok Sabha debate
- Opposition (BSP) · Ritesh Pandey: 1% TDS will hamper how Web3 businesses work in India. MediaNama report on Lok Sabha debate
- BJD · Pinaki Misra: A crypto ban would be like banning the internet; TDS is set too high. MediaNama report on Lok Sabha debate
