‘Binance Users Under Tax Investigation? Overview of India's Crypto Asset Taxation and Regulatory Framework’ (Author: FinTax) India's tax authorities are investigating over 400 high-net-worth Binance users for allegedly evading the 1% TDS and 30% capital gains tax, with an effective tax rate reaching 42.7%. Binance returned to India in 2024 after paying fines and registering with the Financial Intelligence Unit, assisting authorities in tracking transactions. Since including cryptocurrencies under the Virtual Digital Asset (VDA) tax framework in 2022, India has been strengthening its reporting and penalty mechanisms. High tax burdens are driving capital outflows, but the trend toward compliance is narrowing the space for offshore tax evasion. Read more: https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=47&id=51569