Elfreda Tasch XIHN
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A #indian crypto trader received an ₹88 lakh tax demand notice despite reporting zero profit from Bitcoin trading in assessment year 2018–19, as shown in an Income Tax Appellate Tribunal case.
This explains how traders inflate transaction volume to crores through overtrading and repeated crypto swaps, even with modest capital like ₹9 lakh, because 1% TDS applies to every swap and tax authorities track the activity.
so the advice for traders is to avoid unnecessary swaps to reduce taxable events, lower TDS deductions, and minimize the risk of scrutiny from the data exchanges shared with India’s Income Tax Department. Any thoughts how to avoid this...💭💭💭
This explains how traders inflate transaction volume to crores through overtrading and repeated crypto swaps, even with modest capital like ₹9 lakh, because 1% TDS applies to every swap and tax authorities track the activity.
so the advice for traders is to avoid unnecessary swaps to reduce taxable events, lower TDS deductions, and minimize the risk of scrutiny from the data exchanges shared with India’s Income Tax Department. Any thoughts how to avoid this...💭💭💭
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