The impact of India's 1% TDS on Virtual Digital Assets: A call for reform

India's 1% TDS and 30% tax on VDAs led to a 97% trading volume drop, 81% user decline, and migration to offshore exchanges. NALSAR and Meyappan Nagappan report tax losses and suggest reducing TDS to 0.01%, allowing loss offset, and revising the 30% tax rate. Current tax policy hampers India's digital economy and causes brain drain.