Can we avoid paying a30 % tax on cryptocurrency trading
in India cryptocurrency With the introduction of 30% tax on trading, digital money from 1st April, investors are worried and this has also raised the question in the minds of investors whether we can avoid paying 30% tax on cryptocurrency trading
Investors are looking for some way to avoid paying 30% tax on cryptocurrency trading and in this attempt investors are falling prey to fraud Rumors are being spread that there is a way by which you can do 30% tax on cryptocurrency trading. One of the ways in this is to avoid the 30% tax on cryptocurrency trading by investing in forex
However, experts say that you cannot avoid paying 30% tax on cryptocurrency trading income by investing in forex. It has nothing to do with the location of the exchange or its platform
What if Indian Crypto Currency Exchange Moves Abroad
India’s stringent crypto tax regime is forcing many Indian companies to change their whereabouts
Indian investors should be aware of this tax regime that the 30% tax announced by the Government of India does not depend on the location of the exchange, said Patner Utsav Trivedi of TAS Law serving Indian customers having their base outside India. No crypto exchange can exempt Indian investors from the tax regime
Experts have these tips to avoid crypto currency scams
Protect Your Wallet If you buy crypto currency the security of the wallet is of paramount importance If you lose the key your money is gone permanently
Check email addresses and website addresses carefully.cryptocurrency scams Often tricking people into logging in and then capturing login credentials then used to steal money
Looking for an exchange with an Internet search engine may have counterfeiters that advertise and impersonate real companies. Be especially careful when viewing these on the phone.
Don’t Pay for Producers With Cryptocurrencies
If someone asks you to pay with bitcoin or any other crypto currency, be careful no one will ever ask for this payment form with the government
Beware of Fake Recovery Companies Scam companies sometimes claim that they can recover stolen money for a fee. These are usually scammers.
Beware of Fake Reviews Scammers often create fake reviews for their own companies
Beware of Celebrity Ads Trusting a prominent person investing in cryptocurrencies can be tempting, but those ads are often not authorized
Beware of claims being made on social media
Beware of Social Media Claims This is the Most Common Place for People to Face Investment Scams
Beware of social media friends who reach out to you on social media and tell you how to make money with crypto currency
Don’t believe promises of guaranteed returns No one can guarantee how any crypto currency will perform
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