🚨 India’s Crypto Taxes Squeeze Trader Profits 🚨

India’s 30% tax on crypto gains and 1% TDS on transactions over ₹10,000, effective since 2022, cut deeply into traders’ profits. No deductions or loss offsets are allowed, pushing traders toward tax-efficient futures trading. XRP and meme coins like PEPE drive gains, but taxes reduce net earnings. For example, a ₹10,000 profit yields ~₹6,900 after tax and TDS. Regulatory uncertainty, with the Supreme Court comparing Bitcoin to “Hawala,” adds challenges. Traders with $2.72 can buy ~2.7 USDT or ~150,000 SHIB on Binance, but taxes remain a hurdle

Source: The Hindu
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