Former ZebPay CEO Avinash Shekhar, in collaboration with WazirX co-founder Nischal Shetty, recently launched Pi42, a crypto-INR perpetual futures exchange tailored for Indian investors. In the wake of recent regulatory concerns around crypto, Pi42 serves as a relief for the Indian crypto community.
Pi42 Doesn’t Charge TDS Or Conversion Fees
Pi42 distinguishes itself by offering crypto derivatives trading in INR without conversion fees or TDS (Tax Deducted at Source) but how is this possible? Well, crypto futures do not qualify as Virtual Digital Assets (VDAs) under Section 2(47A) of the Income Tax Act, hence, crypto derivatives don’t qualify for tax deduction levied on VDAs
Pi42 currently features five prominent tokens including Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC) , and XRP. Moreover, the platform’s fee structure is notably customer-friendly, with free INR deposits via manual bank transfers. In addition, it charges a nominal 0.1% fee for instant bank tran
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