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Important Update About Identity Verification for Binance Users ( Binance is registered with the Financial Intelligence Unit-India and adheres to Indian AML legislation. This includes obtaining your PAN details as part of our KYC process, which is a requirement under the Indian AML laws.)

I AM SUPPORTING The GOVERNMENT BY FILING 30% Income Tax from MY PROFITS for 2024-2025 Financial year. What about you?

Pay the tax and sleep without worrying. The penalties are 50% to 200% if not paid the tax. Once your PAN Card is linked with Binanace you can’t escape from paying taxes.

Any foreign exchange if registered with FIU-India and if you have account in such exchanges you can’t escape taxes.

Even if you trade on non FIU exchanges which majority of traders are thinking then they are wrong . P2P transactions with many bank accounts are the main cause of suspicious activity for IT department.

NEVER THINK TO CLOSE BINANCE ACCOUNT AND OPEN NON-FIU account, that’s the stupidity.

In short whether you are using a FIU exchange or non-FIU exchange honestly report your taxable income and have a sound sleep else be ready to face prosecution too.

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