News > Unwelcome regulations, high taxes push more Indians to offshore crypto exchanges
Unwelcome regulations, high taxes push more Indians to offshore crypto exchanges
The Week | 28/12/2024 10:10 PM | Click to read full article
Between December 2023 and October 2024, Indians traded a whopping Rs 2.63 lakh crore on offshore platforms, found Delhi-based technology policy thinktank, Esya Centre. This means that Rs 2,634 crore was owed in TDS by the offshore platforms. This also sums up to more than Rs 6,000 crore owed to India by offshore exchanges in uncollected TDS since the implementation of the Tax Deducted at Source system for VDAs in July 2022.
