news4global
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • VideosHot
    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Bitcoin At MAJOR Crossroads (IS BTC PRICE ABOUT TO CRASH?)

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    Could the FIRST Cryptocurrency Pre Sale Altcoin of 2023 EXPLODE?

    ये Coins कर सकते बर्बाद ‼️  Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    ये Coins कर सकते बर्बाद ‼️ Solana Bad news | 30 दिसंबर को बड़ी हलचल | Cryptocurrency | crypto news

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    Quant QNT Price News Today Technical Analysis – Price Now! Quant Price Prediction 2022

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    🔥 100X POTENTIAL? 🔥 LONG TERM BNB PRICE PREDICTION – Crypto News Today

    Gravitas: Cryptocurrency: New tool for money laundering

    Gravitas: Cryptocurrency: New tool for money laundering

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    Last Chance to Buy Ada (Cardano) || Ada (Cardano) Price Prediction || Ada News Today || Ada Update

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    20/12/2022 Cryptocurrency Tamil news today | Shiba inu coin news | luna crypto news | Bitcoin Tamil

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

    🚀Binance ने Cryptowalo को Goodnews दी ✅️🚀| Cryptocurrency | Shiba inu news today

No Result
View All Result
news4global
No Result
View All Result
Home Business

Crypto TDS 1 Percent India Trading Decline Wazirx Coindcx Zebpay Exchanges

July 5, 2022
Reading Time: 2 mins read
0
Crypto TDS 1 Percent India Trading Decline Wazirx Coindcx Zebpay Exchanges
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications – ABP Live

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Microsoft Launches New Bing Likely Powered by OpenAI’s GPT-4 A.I – The New York Times

February 7, 2023

New Delhi: Starting July 1, a TDS of 1 percent was imposed on cryptocurrencies in India. Cryptocurrencies are currently clubbed under virtual digital assets (VDAs) in the country, facing taxation of 30 percent on all gains, as part of the new tax regime that came into effect on April 1. This month, an additional TDS was slapped on crypto transactions. This has led to a worrying dip in trading volumes among leading crypto exchanges in the country, as per data from crypto data aggregator CoinGecko, as reported by Bloomberg.

As per CoinGecko data, WazirX, CoinDCX, and ZebPay suffered major declines in trading volumes within the range of 60 to 87 percent immediately after the 1 percent TDS went into effect. The report also noted that the Giottus crypto exchange saw a trading plunge of 70 percent. 

ALSO SEE: All About Crypto TDS In India: How Cryptocurrency Exchanges Are Reacting To CBDT FAQ

To put things into perspective, WazirX back in July 2020 would reportedly take less than two hours to see $3.8 million worth of trading. However, on July 2, WazirX saw trading of the same amount throughout an entire day after the TDS went into effect. 

As per WazirX Vice President Rajagopal Menon, market makers and high-frequency traders were “gone” soon after the TDS kicked in. He added that traders are conducting more peer-to-peer trading and migrating to decentralised exchanges.

Disclaimer: Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Cryptocurrency is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Cryptocurrency market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.

Tags: Cryptocrypto newscrypto tdsCryptocurrencycryptocurrency news
Share76Tweet47

Related Posts

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications – ABP Live

by admin
February 8, 2023
0

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications  ABP Live

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Microsoft Launches New Bing Likely Powered by OpenAI’s GPT-4 A.I – The New York Times

by admin
February 7, 2023
0

Microsoft Launches New Bing Likely Powered by OpenAI’s GPT-4 A.I  The New York Times

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Hut 8 and US Bitcoin announce merger of equals to create a … – PR Newswire

by admin
February 7, 2023
0

Hut 8 and US Bitcoin announce merger of equals to create a ...  PR Newswire

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Record-breaking 2022 for North Korea crypto theft: UN report – CNA

by admin
February 6, 2023
0

Record-breaking 2022 for North Korea crypto theft: UN report  CNA

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Washington turns hostile on crypto – Axios

by admin
February 6, 2023
0

Washington turns hostile on crypto  Axios

Load More
  • Trending
  • Comments
  • Latest

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

March 3, 2022

Bitcoin Is ‘Definitely Not a Fraud,’ CEO of Mobile-Only Bank Revolut Says

March 2, 2022
How online shopping has changed over the last 30 years | National

How online shopping has changed over the last 30 years | National

April 6, 2022
Protocon Announces ‘Contract Model’, an Alternative

Protocon Announces ‘Contract Model’, an Alternative

April 6, 2022

US Commodities Regulator Beefs Up Bitcoin Futures Review

0

Bitcoin Hits 2018 Low as Concerns Mount on Regulation, Viability

0

India: Bitcoin Prices Drop As Media Misinterprets Gov’s Regulation Speech

0

Bitcoin’s Main Rival Ethereum Hits A Fresh Record High: $425.55

0
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

The bigger the economy, the bumpier it gets – POLITICO

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Does Bitcoin's current rally mark start of crypto-spring? – wknd.

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Fed Board Prohibits Member Banks from Holding Cryptoassets as … – Blockworks

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Dubai’s Crypto Regulator Announces Increase In Resources To Handle New Applications – ABP Live

February 8, 2023

Latest News

Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

The bigger the economy, the bumpier it gets – POLITICO

February 8, 2023
Bitcoin pro traders warm up the $24K level, suggesting that the current BTC rally has legs – Cointelegraph

Does Bitcoin's current rally mark start of crypto-spring? – wknd.

February 8, 2023

Categories

Site Navigation

  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services
  • Home
  • About us
  • Contact us
  • Privacy policy
  • Terms and services

© 2022 Designed by news4global

No Result
View All Result
  • Home
  • Bitcoin
  • Blockchain
  • Business
  • Latest news
  • Market
  • Regulation
  • Videos

© 2022 Designed by news4global