Odaily News India is unlikely to change its controversial tax deduction (TDS) policy on crypto transactions when Finance Minister Nirmala Sitharaman unveils her full budget for 2024-2025 on Tuesday, industry experts say. "I don't expect India to reduce its 1% TDS anytime soon, even though it is necessary," said Punit Agarwal, founder of cryptocurrency tax platform KoinX. "The current tax rate leads to capital outflows to international exchanges and DEXs, which ultimately causes losses to the government." "High TDS may prompt retail investors to turn to offshore exchanges, but the government's focus on strict regulation suggests that a reduction in the tax rate is unlikely," said Rajat Mittal, Supreme Court cryptocurrency tax adviser. "In the digital asset space, the need for strong regulation is considered more important than alleviating industry concerns." (CoinDesk)