Kuldeep (name changed) sold crypto tokens worth ₹98,500 via peer-to-peer (P2P) transactions in 2022, making a modest profit of just ₹1,500. The transaction was carried out through a centralized exchange, and he received ₹100,000 directly into his bank account. #TrumpTariffs
Recently, he was shocked to receive a notice from the Income Tax Department, flagging the ₹1,00,000 deposit. Despite providing screenshots of the trade and official exchange statements as proof, he was asked to pay a 78% penalty — ₹78,000 — on just ₹1,500 profit.
🚨😭 SAD NEWS FOR INDIAN CRYPTO USERS #TrumpTariffs
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content.See T&Cs.
