The number of Indian users on Binance has soared after the Indian government began levying taxes on crypto transactions. cryptocurrency bitcoin
Binance Sees Record Increase in Indian Users After Government Starts Imposing New Crypto Tax
The recent tax regulation is not explicitly clear on whether the 1% tax deducted at source extends to crypto derivatives transactions involving futures, as it does to crypto spot transactions.on gains from crypto assets. Moreover, crypto trading losses cannot be offset against income. Indian crypto exchanges are also facing limited support from the banking system, making it difficult for users to move money in and out of trading platforms.
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