TKF Report Highlights Uncollected TDS in India from Offshore VDA Trading

TheNewsCryptoPubblicato 2026-01-13Pubblicato ultima volta 2026-01-13

Introduzione

A TKF Report titled "Taxation of Digital Assets in India" highlights significant uncollected TDS from offshore cryptocurrency exchange platforms, estimated at approximately ₹11,000 crore since July 2022. Of this, ₹4,877 crore pertains to the last year alone, indicating a major shift of Indian trading activity beyond the nation’s taxation framework. The Bharat Web3 Association shared the report, emphasizing that regulatory arbitrage and uneven enforcement are causing sustained revenue leakage. In contrast, the Indian government collected ₹158 crore in FY22-23, ₹180 crore in FY23-24, and around ₹450 crore in FY24-25 from domestic platforms. CoinDCX CEO Sumit Gupta previously suggested key policy changes, including reducing TDS to 0.01%, aligning capital gains tax with income slabs, and allowing loss offsetting to encourage onshore platform usage and ensure tax equity.

TKF Report, titled Taxation of Digital Assets in India, has highlighted that there is a significant amount of uncollected TDS from offshore exchange platforms. Bharat Web3 Association has further shed light by sharing the report with the community. Notably, this comes days after CoinDCX CEO Sumit Gupta listed three key changes that could help the country become a leader in the segment.

Key Points from TKF Report

According to the TKF Report, Taxation of Digital Assets in India, the uncollected TDS is approximately ₹11,000 crore. This is cumulative since July 2022 – that is when the tax was introduced for the crypto sphere in the country. Out of this amount, around ₹4,877 crore pertains to the last year alone.

Notably, the uncollected TDS mentioned is from offshore exchanges, which many community members have tagged as a possible revenue leak.

The government reportedly collected ₹158 crore in FY 22-23, within the first few months of the implementation of the tax. Tax collection increased to ₹180 crore in the next year, that is in FY 23-24. For FY 24-25, collections stood at around ₹450 crore as a result of global tailwind pushing the country’s crypto industry forward, according to the report.

Bharat Web3 Association Speaks

Bharat Web3 Association, an apex body for leading Web3 technology Indian companies, shared the report. It underlined that the uncollected TDS further indicates a major shift in Indian trading activity beyond the scope of the nation’s taxation and reporting framework.

The association further emphasized how regulatory arbitrage and uneven enforcement translated into sustained revenue leakage, a similar point later echoed by community members. Bharat Web3 Association has reinforced the need for a calibrated policy approach to make companies stronger, with a core focus on helping onshore platforms retain activities.

Sumit Gupta Suggests Key Changes

CoinDCX CEO Sumit Gupta had earlier suggested three key changes to reset India’s crypto policy. He suggested a standardized TDS of 0.01% instead of 1%, adding that a lower compliance cost would bring more users back to regulated platforms, including onshore ventures.

Sumit then suggested aligning the capital tax of 30% with income slabs, explaining that the current flat rate violated tax equity. He highlighted that progressive taxation would encourage legitimate wealth creation and signal fairness principles. Finally, CoinDCX CEO suggested allowing loss offsetting for crypto investors against other income.

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Domande pertinenti

QWhat is the estimated amount of uncollected TDS from offshore VDA trading platforms in India, as highlighted by the TKF Report?

AThe TKF Report estimates the uncollected TDS to be approximately ₹11,000 crore cumulatively since July 2022.

QWhich Indian association shared the TKF report and what key concern did it highlight regarding the uncollected TDS?

AThe Bharat Web3 Association shared the report. It highlighted that the uncollected TDS indicates a major shift of Indian trading activity to platforms beyond the nation's taxation and reporting framework, leading to sustained revenue leakage.

QWhat were the three key policy changes suggested by CoinDCX CEO Sumit Gupta for India's crypto sector?

ASumit Gupta suggested: 1. Reducing the TDS rate to a standardized 0.01% from 1%. 2. Aligning the capital gains tax with income slabs instead of a flat 30%. 3. Allowing investors to offset crypto losses against other income.

QHow much TDS did the Indian government collect in the fiscal year 2023-24 according to the report?

AThe Indian government collected ₹180 crore in TDS in the fiscal year 2023-24.

QSince when has the 1% TDS on crypto transactions been in effect in India, as mentioned in the article?

AThe 1% TDS on crypto transactions was introduced in July 2022.

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