CoinDCX CEO Says Exchange Paid Nearly 50% of India’s Crypto TDS in FY 2024‑25
According to finance ministry data cited by Hindustan Times, India’s crypto TDS collections climbed 41 percent year‑on‑year to ₹511.83 crore in FY 2024‑25, up from ₹362.70 crore the previous year. Reacting to this, CoinDCX co‑founder and CEO Sumit Gupta revealed that his exchange alone deposited ₹259.58 crore in TDS during FY 2024‑25, implying CoinDCX accounted for nearly half of all crypto TDS paid in India and underscoring how on‑shore exchanges are bearing the brunt of the current 1 percent levy.
