Indian Crypto Expert Calls for Reduction or Removal of 1% TDS

Crypto industry stakeholders in India are eagerly awaiting regulatory clarity and tax reforms. Nischal Shetty, a prominent figure in the Indian crypto space, recently shared his views on the country's crypto tax structure and its impact on the market.

Shetty emphasized that the current 1% TDS has had a significant negative effect on market liquidity, making it difficult for active traders to engage in serious trading on local platforms. He also pointed out that the inability to offset losses has further exacerbated this issue.

The expert believes that the tax structure has driven many users to offshore platforms, where they can avoid the 1% TDS and take advantage of more favorable regulations. However, Shetty emphasized that a stable and clear regulatory framework is essential for attracting and retaining users in the Indian market.