The post India Retains 30% Crypto Tax, Introduces New Penalties appeared on BitcoinEthereumNews.com.

Key Points: India retains 30% crypto tax, introduces penalties for non-compliance. Industry groups express disappointment over the tax structure. New measures aim to strengthen compliance in digital asset reporting. India’s federal budget for 2026-27 retains the 30% tax on cryptocurrency gains and introduces compliance penalties, effective April 2026, per CoinDesk via PANews. The unchanged tax framework and new penalties could stifle growth in the cryptocurrency sector, causing concerns among industry participants about compliance costs and market friction. India Maintains 30% Crypto Tax Amidst Industry Frustration In its latest budget for 2026-27, India maintained the existing 30% tax on cryptocurrency gains, coupled with a 1% tax deduction at source (TDS). Despite expectations for tax reductions, the government introduced new penalties. Under the updated framework starting April 1, 2026, entities failing to declare crypto transactions according to Section 509 of the Income Tax Act will incur a daily fine. This is part of a broader strategy to improve compliance in the fast-evolving digital asset market. The unchanged tax rates and the enforcement of penalties have been met with mixed reactions from the industry. Among the responses, Sathvik Vishwanath, CEO of Unocoin, noted the budget’s potential as a decisive tool in shaping India’s crypto asset landscape. Vishwanath emphasized that “The Union Budget 2026 was expected to play a decisive role in shaping India’s approach to crypto assets and Web3 technologies. A primary expectation was the rationalisation of the existing tax regime for virtual digital assets, which is currently restrictive and misaligned with broader financial market practices.” Source. Raj Karkara of ZebPay highlighted that these measures align digital asset reporting with financial standards. Budget strengthens accountability. BingX offers exclusive rewards and top-tier security for new and high-volume crypto traders. New Penalties Designed to Boost Crypto Compliance Did you know? The introduction of a 30%…

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Filed under: News - @ February 2, 2026 6:16 am