I would like to know a little clarification on this matter. Under the new tax regime the tax slab of 0% tax increased to 12.5L but when I did some research it doesn't apply to the crypto gains. Means even if I traded crypto and made 1000INR profit then I am bound to pay 30INR for tax irrespective of my tax slab, right?
Yes you are bound to pay 30% flat tax on crypto profits and that is 300 INR on a 1000 INR profit and not 30 INR.
In addition to that, you are liable to pay 1% TDS on every transaction you make on an Indian crypto exchange.
But obviously you can claim the TDS back when you fill the ITR form in case you have overpaid the taxes.
There is no exemption on crypto profits. The government wants us to die poor while filling their pockets.