X @Wu Blockchain

Regulatory Scrutiny - India's tax authority is investigating over 400 high-net-worth Binance traders for alleged tax evasion [1] - The investigation covers FY 2022–23 and 2024-25 [1] - The Central Board of Direct Taxes has instructed regional offices to report actions by October 17 [1] Taxation - Indian crypto traders face a 1% TDS (Tax Deducted at Source) on each transaction [1] - A 30% profit tax is levied on crypto trading profits in India [1] - Surcharges are added to the profit tax, bringing the effective tax rate to approximately 42.7% [1]