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🚀 $XRP Demand Surges in India! 🇮🇳
XRP is experiencing increased demand in India, driven by its adoption by major banks like Axis Bank, Yes Bank, and Federal Bank for efficient cross-border transactions.
💸With a 24-hour trading volume of ₹396.5B and a price around ₹196.84, $XRP is rapidly emerging as a key player in remittances and interbank settlements. Its growing utility is driving demand among Indian investors.
#xrp #CryptoNews #IndiaCrypto #Rising.Tide
XRP is experiencing increased demand in India, driven by its adoption by major banks like Axis Bank, Yes Bank, and Federal Bank for efficient cross-border transactions.
💸With a 24-hour trading volume of ₹396.5B and a price around ₹196.84, $XRP is rapidly emerging as a key player in remittances and interbank settlements. Its growing utility is driving demand among Indian investors.
#xrp #CryptoNews #IndiaCrypto #Rising.Tide
🚨 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
#India #TaxOnCrypto #bitcoin
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
#India #TaxOnCrypto #bitcoin
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