Hyderabad (Telangana) [India], November 7 (ANI/NewsVoir): Crypto trading in India reached grassroots despite many headwinds from the uncertainty in accepting the currency, government legislations, and tax initiatives. It is estimated that around 1.8 Crore Indian accounts created in India have traded few rupees to few lakhs per year. Today, India with only 1.6 per cent of the population paying more than Re.1 of tax, and only 4.7 per cent of the population filing their taxes is extremely low for it's stature as the 5th largest economy in the world when compared with the OECD nations. Starting from 1st Apr 2022, India imposes 30 per cent tax on Virtual Digital Currency (VDA, Crypto is one of the VDA) income without setting off losses from any other income, also 1 per cent TDS on every transaction above Rs 10,000 value. In addition, higher complexity in TDS filing for resident Indian trading on a foreign exchange/broker. Now, having Crypto taxes starts from FY 2022-23, its interpretati