95% of India's Crypto Trading Has Moved Offshore on 1% TDS, Report Says
- —Offshore exchanges accounted for ~95% of India's VDA trading volume in FY 2025-26
- —Offshore volume hit ₹9 lakh crore versus ₹51,446 crore on domestic platforms
- —Indian visits to a leading offshore P2P platform rose 73% from July 2025 to April 2026
- —Report proposes cutting TDS from 1% to 0.01% and allowing loss carry-forwards
Why it matters: Without reform, offshore trading could reach ₹15.27 lakh crore by FY 2030-31, with estimated cumulative tax losses already at ₹57,147 crore.
Source: Cryptonews.net
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