Pi42 Co-Founder Advocates Changes in Crypto Taxation for Boosted Trading

Pi42 CEO Avinash Shekhar argues that lowering TDS and allowing losses to offset profits could increase trading volumes and tax revenues for Indian crypto exchanges. He highlights three major issues: high TDS, non-adjustment of losses, and high tax rates. Addressing these could benefit domestic exchanges.

In a detailed discussion with reporters, Avinash Shekhar, the CEO and co-founder of Pi42, emphasized the need to revise crypto tax policies to enhance trading volume and revenue.

Shekhar outlined how the current 1% TDS on spot crypto transactions and the non-adjustment of losses are driving investors to international exchanges, drastically reducing domestic trading activities.

Addressing these issues, Shekhar proposed reducing the TDS to 0.1% and allowing loss adjustments to boost market efficiency and secure higher tax revenues from domestic exchanges.

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