Amritagaganchakraborty

The "market" is all about perception. It's a fiction, a collective story we’ve all agreed to believe. Every financial strategy, every trading tactic, is rooted in this shared narrative. Just like fiat currency — what is it, really, but a promise?
You walk into a grocery store and hand over a ₹100 note for a kilo of rice. That note is not rice. It’s a piece of paper backed by a governing system that assures everyone abides by the promise it represents. The same is true of the markets — structured promises, perceptions, beliefs. And so, to ride the tides of the market is to navigate a realm built on trust and emotion.
But here’s the tricky part: our emotions don’t always play fair.
Almost everyone who steps into this world does so with the hope of profit. "The more the merrier." Even when people exit for good, they often try to grab one last piece of the pie. That’s human nature.
Recently, in one of our live sessions, our host @Deepayan Turja touched on a fascinating topic — the psychological impact of color. It might sound odd at first, but pause and reflect: have you noticed the rush of dopamine when your screen lights up with green PnL? That color — a simple hue — can manipulate our minds into believing we’re winning, that we deserve more, that we’re on the verge of something big. That’s how the market entices us. That’s how greed sneaks in.
We all fall for it. I’ve fallen for it. Every time I’ve lost money, I’ve lost it to greed. Unrealistic setups. High leverage. Overtrading. Empty confidence. All symptoms of one core issue: emotional overreach.
But there’s a way out: education and awareness.
Educate yourself. Track your emotions. Use “Greed” as your lifelong stop-loss. It may sound simple, but it’s the only path toward real, sustained profit — and peace.
The truth is, our pursuit of profit is natural. But so are losses. If nature allows us to gain, it must also allow us to lose. The outcome of a successful trade and a failed one often lead to the same place — a hunger for more. One pushes you to replicate, the other to recover. And that cycle? That’s what keeps this market alive.
Remember this: we are not here just to make profits. We are here to understand our relationship with money, with assets, and ultimately, with ourselves.
I’m no guru. I don’t follow any cults or dogmas. But I do believe fate helps — even through hardship. Loss, too, is help in disguise. We each have our own limits, customized by life itself. Chasing profit without purpose leads to chaos. Managing risk isn’t just technical — it’s emotional. It’s about aligning your expectations with reality.
So, manage wisely. Keep peace in the bargain. If I can do it, anyone can.
XO,
Amrita

India has embraced cryptocurrency with cautious regulation, and one of the most significant aspects of this regulation is crypto taxation. If you are trading, investing, or otherwise transacting in cryptocurrencies in India, understanding your tax obligations is essential. Here's a comprehensive look at how crypto tax works in India, who is liable, and how much you need to pay.

---

1. Overview of Crypto Tax in India

In the Union Budget of 2022, the Indian government officially recognized Virtual Digital Assets (VDAs)—which include cryptocurrencies and NFTs—and introduced a formal tax regime, effective April 1, 2022.

---

2. Who Has to Pay Crypto Tax?

You are liable to pay crypto tax in India if you fall under any of the following categories:

Retail crypto investors buying and selling coins like Bitcoin, Ethereum, or altcoins.

Traders actively buying/selling crypto for short-term gains.

Miners who mine cryptocurrencies and then sell them.

NFT creators and sellers.

Businesses or startups accepting crypto as payment.

Airdrop recipients or those receiving crypto as a gift.

In essence, any Indian resident or entity who transacts in crypto assets is subject to taxation under the current laws.

---

3. Crypto Taxation Structure

a. Flat 30% Tax on Gains

A flat 30% income tax is levied on profits made from transferring virtual digital assets (VDAs).

No deductions (other than the cost of acquisition) are allowed.

This rate applies regardless of your income tax slab.

Example:
If you bought a token for ₹1,00,000 and sold it for ₹1,50,000, your gain is ₹50,000.
Tax = ₹50,000 × 30% = ₹15,000 (plus surcharge and cess, if applicable).

---

b. 1% TDS (Tax Deducted at Source)

From July 1, 2022, a 1% TDS is applicable on the sale of crypto assets above certain thresholds:

₹50,000 per year (for individuals audited under I-T Act or HUF with income > ₹50 lakh).

₹10,000 per year (for others).

TDS is deducted by the crypto exchange or the buyer (in peer-to-peer transfers).

Example:
If you sell crypto worth ₹1,00,000, TDS = ₹1,000 is deducted upfront and reported in your Form 26AS.

---

c. Gift Tax

If you receive crypto as a gift, it may be taxed under the Income from Other Sources head if the value exceeds ₹50,000 and is not from a relative or on special occasions.

---

4. Key Exemptions and Clarifications

Loss Set-off Not Allowed: You cannot offset losses from one crypto asset against gains from another or from other income heads.

No Carry Forward: Crypto losses cannot be carried forward to future years.

Airdrops and Mining: Crypto received via airdrops or mining is taxable under “Income from Other Sources” at applicable slab rates, and taxed again when sold under the 30% rule.

---

5. Reporting Crypto on Income Tax Returns (ITR)

Gains from crypto trading must be reported in Schedule VDA in ITR forms (from AY 2023–24 onwards).

TDS deducted can be claimed as credit while filing returns.

---

6. How to File and Pay

Maintain detailed records of all transactions, including purchase price, sale price, date, wallet addresses, and exchange used.

Report your crypto income under the appropriate ITR form (ITR-2, ITR-3 depending on your income type).

Use platforms like Zerodha Coin, KoinX, or ClearTax to simplify tax calculations.

---

7. Penalties for Non-Compliance

Non-payment or under-reporting of crypto taxes can attract penalties, interest, and even prosecution under the Income Tax Act.

The government may scrutinize wallets, exchanges, and bank accounts for unreported crypto gains.

---

8. Future Outlook

While India’s taxation framework on crypto is currently strict, it provides regulatory clarity. There's growing demand from industry players to revise the 30% flat tax and allow loss set-off, especially as the country explores its own CBDC (Central Bank Digital Currency) and considers broader crypto regulation.

---

Conclusion

If you're dealing in cryptocurrencies in India, tax compliance is non-negotiable. The 30% flat tax on gains and 1% TDS on transactions make it crucial to keep accurate records and understand your tax liability. Consult a tax advisor or CA for personalized guidance and ensure you meet all filing requirements on time.

🚨🚨🚨This post it for people seeking Redpackets andc trying to hoard them blindly🚨🚨🚨

🚨 Why Are People Spamming Red Packet Codes in Binance Live? 🤔
Not every code is what it seems…
---
🎁 What Are Red Packets?
Binance lets users send crypto gifts through unique “red packet” codes—fun, fast, and sometimes free crypto.
But here’s the twist…
---
⚠️ Not All Red Packets Are Legit!
You might see a flood of red packet codes during Binance Live streams. But before you rush to redeem...
---
❌ Here’s What Could Be Happening:
🔸 Fake Giveaways – Just bait to get clicks or followers.
🔸 Phishing Tricks – Some redirect to scammy links.
🔸 Spam Attacks – Bots dropping useless or expired codes.
🔸 Self-Promo Games – Users farming attention or engagement.
---
✅ Stay Safe & Smart:
✔️ Only trust red packets from verified Binance hosts
✔️ Never click on suspicious links or give out personal info
✔️ Ignore spammy, repeated codes – they're almost always fake
---
💡 Remember:
If it looks too good to be true in a crowded live chat... it probably is.
Protect your wallet—don’t fall for crypto bait.
---
📲 Share this to keep your fellow traders safe!
#BinanceTips #CryptoSafety #RedPacketScam #BinanceLive #CryptoEducation #DYOR