Hey crypto fam! 🚀 If you’re trading $BOB, $SHIB , $BTC , or $PEPE in India, you must know the tax rules—or risk losing big to penalties. Don’t let taxes eat your gains! Here’s a simple breakdown to keep you safe (and profitable). 👇
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💸 1. 30% Tax on Crypto Profits – No Escapes!
Only on profits when you sell (holding? No tax!).
No deductions—even if you lost money on other trades.
You pay this while filing ITR (no auto-deduction).
⚠️ Pro Tip: Track every sale—tools like CoinTracker/Koinly help!
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🔪 2. 1% TDS – The Silent Profit Killer
Charged on EVERY sale (even at a loss!).
Binance won’t deduct it—you must pay manually.
Miss it? Tax notices will come knocking. 🚨
💰 Smart Move: Set aside 1% from every trade to avoid cash crunches.
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😢 3. Losses? Tough Luck!
Can’t offset crypto losses against salary/stocks.
Can’t carry forward to next year.
Tax law just ignores them (Section 115BBH).
🤯 Reality Check: A bad trade hurts twice—loss + no tax relief!
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🕵️♂️ 4. How Does the IT Department Track Crypto?
They don’t… until they do!
Bank withdrawals, UPI, TDS records = Red flags if undeclared.
Audit risk if your ITR doesn’t match transactions.
🔒 Safety Net: Keep ALL Binance trade history (screenshots/CSV).
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🚀 5. How to Stay Safe & Keep More Money?
✅ Use tax tools (Koinly, CoinTracker) for auto-calculation.
✅ File on time—avoid last-minute chaos.
✅ Declare truthfully—penalties hurt more than taxes!
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💬 Your Turn!
First time filing? Drop a 🧾 below!
Tag a friend who needs this!
Follow me for more tax hacks & crypto gems.
📢 Share this NOW—save your degen squad from tax traps!
#CryptoTaxIndia #BinanceSquare e #CryptoToRich #TaxHacks #CryptoIndia #BOBArmy #DYOR #PassiveIncome
