How harmful the 1% TDS is for the crypto ecosystem in India. A thread. 🧵

First let us understand what TDS on Crypto is:

According to the Finance Bill, a new section 194S will be added from July 01, 2022.

Any Buyer of Crypto will have to deduct 1% of the payment to seller.

— Naimish Sanghvi (@ThatNaimish) February 2, 2022