You had heard that crypto is just investment or speculation… but now look at it from the government’s earnings perspective – tax collection on crypto and virtual digital assets (VDA) has blown all the wings in the last 3 years! According to data shared by Ministry of Finance in Parliament, crypto exchanges collected tax (TDS) worth ₹221.27 crore in FY 2022–23, ₹362.70 crore in FY 2023–24 and ₹511.83 crore in FY 2024–25. Overall this figure works out to around ₹1,095.80 crore. But the surprising thing is – out of this entire tax, about 60% (about ₹ 661 crore) has come only from the state of Maharashtra! These figures show that crypto is more than just an investment — it has now become a major revenue source for governments. Also, with the 1% TDS rule (Section 194S, 2022), the monitoring and compliance pressure on crypto-transactions has also increased more than before. If you’re investing in crypto — count not just profit, but also “tax-compliance” among your expenses/liabilities. This story is just the beginning — it will be interesting to see what changes next!
Maharashtra is the only Crypto Tax King – gave ₹661 crore in 3 years! Money Live | Maharashtra is the sole Crypto Tax King — having paid ₹661 crore in taxes in just 3 years!
