India’s tax authority is investigating over 400 high-net-worth Binance traders for suspected tax evasion during FY 2022–23 and 2024–25. The Central Board of Direct Taxes (CBDT) has directed regional offices to report their findings by October 17. Indian crypto traders are subject to a 1% TDS per transaction, a 30% tax on profits, and additional surcharges, resulting in an effective tax rate of around 42.7%.
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