TechFlow news, October 12 — According to The Block, Indian tax authorities are investigating over 400 high-net-worth Binance traders suspected of tax evasion during the fiscal years 2022–23 and 2024–25. India's Central Board of Direct Taxes has internally instructed regional departments to report related actions by October 17.
Indian cryptocurrency traders are required to pay a 1% withholding tax on each crypto transaction (included in the final bill), plus a 30% tax on profits, along with surcharges, bringing the effective maximum tax rate to approximately 42.7%.
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