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<ul><li>As per a study, 30% tax and 1% tax deducted at source caused a loss of over Rs 99.3 trillion of local exchange trade volume.</li><li>The study said that Rs 25,300 crore were relocated in the first 6 months of FY23.</li><li>Nearly 1.7M Indian investors have switched to foreign exchange because of taxes.</li></ul>A recent study showed that after the imposition of a 30 percent tax on the income from crypto assets, the net trade volume worth $3.8 billion (Rs 32,000 crore) switched from Indian crypto exchanges to foreign ones between February to October.<a href="https://coinedition.com/30-tax-effect-indian-crypto-exchange-trade-down-by-3-8-billion/" rel="noopener noreferrer nofollow">See the Original CoinEdition</a>

30% Tax Effect: Indian Crypto Exchange Trade Down by $3.8 Billion

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