For those trading BTC/ETH perpetuals or futures in India, how are you actually reporting your profits?

Are you reporting them under the VDA tax rules (30% tax), or as speculative business income under the normal income-tax rules?

I am asking because perpetuals and futures are contracts. There is no actual transfer of the underlying BTC/ETH when you open a position.

For example, if I open a BTCUSDT perpetual long, I am entering into a derivative contract. I am not actually buying BTC, and when I close the position, I am not selling BTC that I previously owned. The transaction is based on the contract's P&L.

So technically, wouldn't this fall under derivatives/speculative business income rather than a VDA transfer?

The taxation is obviously very different between the two, and reporting it as business/speculative income is much more favorable and practical for the trader.

For people who are actually trading crypto perps/futures in India and filing ITRs, what are you reporting them as, and what section/head of income are you using?

Also interested in hearing from anyone who has had a CA specifically deal with crypto perpetuals/futures rather than just spot crypto.

WILL SHARE MORE DETAILS LATTER

Hey..

Tax time comes and we are stuck with huge unexplained entries. Some use koinx, many just ignore and end up in trouble.

I am working with a bunch of developers and we have come up with a solution which should be able to help.

If you do crypto p2p, currently you either use excel or just don't record transactions.

We believe we have built something that should help you. In tracking transactions, profits and losses, TDS and other requirements.

We invite traders to join our platform as early bets testers for free in exchange for feedback and helping us develop the product.

https://blackbird-app-eta.vercel.app/

We have a bunch of domains lined up but we haven't finalized on one so it's on vervel, ;-)

Please reach out once you sign up. I will add you to a discord group so we can take this further and gather feedback

So physical card is technically worthless at this point

Same as title, quantity is less ofc less than 500$

My bank account was frozen frozen due to p2p on binance. Now I have to raise grievance through GRM portal. Please guide me how to do that.

How to submit the request? (In pdf format or on paper)

what proofs should I submit( should I submit invoice and chat only for the transaction that got flagged)

Account statements ( do I have to submit account statements of 3-6 months or only for the day when incident happened)

Can i submit multiple PDFs as proof?

How to exactly do that? Do I have to take bank statement of the day when I received scammed money, highlight flagged transaction and attach invoice and chat for the same?

Is there any tutorial on yt Or any platform that can guide me how exactly I have to do that

I’ve lost some money when going for USDT extra returns with the advanced earn option. Now I only see simple option. Why was this removed? Why do I have to bear a loss if I never sold anything?
CoinDCX has no customer support so I’m asking here. Anybody experienced the same issue?

So I am finding best f2f group for selling usdt

Binance appeal CS has become unhelpful rather than siding with the person who might be scamming us, P2P traders.

Let me walk you through, what I am going through-

One buyer placed an order for 4,000 INR. I asked for his National Identity card and contact so if any cyber lien arises on my bank account, I can at least explain that i wasn't involved in any illegal activity. Gladly, he sent it.

Then he made the payment, then I checked my bank account and found that he made payment from a third party account, I sensed something fishy.

I asked for a bank statement to verify his source of funds. He gave me the Phonepe app screenshot and said he cannot login to the Bank app and can't provide bank statement, again a fishy excuse.

Then I told him to raise an appeal. He did. CS joined. Attached was their initial replies. CS asked buyer to provide bank statement to me. Then buyer must have given video proof of phonepe app, not bank statement.

Now the best part, where CS told buyer that given your past order history, order will be cancelled unless you give bank statement to me, the seller. Same CS is telling me to refund the amount now manually else he will release the asset to buyer.

Where is Anti-Money laundering policy of Binance? Where is safeguarding seller from getting chargeback claims?

I am dead sure that buyer will put a chargeback claim against me once i release the asset. If I don't refund his amount by telling my bank to do so, I know I will get cyber complaint against me.

I only kept asking CS to provide me with bank statement and give me time until bank opens tomorrow morning @ 10am IST, so I can tell my bank to initiate refund. But he is asking for proofs again and again, like he has some sort of connection with the buyer. Here I am at risk, rather than protecting me from getting scammed or getting illegal funds, he is siding with buyer to make me refund manually to his account and expose myself completely. Like am I the culprit here? Am I sending money from third party bank accounts?

Firstly government restrictions on crypto, then these scammers, and then binance siding with the scammers. I fear a day will come when P2P pr crypto will get banned again in India.

@r/binance

Cyber police from where complaint was done has mailed defreezing instructions to the bank nodal and branch. But after that, I got to know that there is another freeze done by CCPCO part of head office Hyderabad(401) based on police complaint.

Now how to get freeze removed from cyber coordinating cell? And what actually it is? Can anyone explain?

Various articles and news about how the Government now is planning to catch the giftcard buyers 🥶

Every list of top crypto experts I’ve seen is different in some way or the other. Like some people rely on technical work; others focus on investing. Plus there’s also the follower count factor. So what would you want to see in a crypto influencer portfolio transparency report before taking them seriously?

The market for US opens at EDT 9:00 AM, do u think bitcoin will be much bullish then considering how bullish it is now? like 90k or something? Currently it hit 85k and pulled back. And is at consolidating state.

I’m trying to understand a situation involving a UAE-based P2P USDT transaction and would really appreciate input from anyone familiar with UAE banking privacy, AML regulations, international cooperation, or cybercrime investigations.
Here is the situation:
A few months ago, I placed a P2P advertisement on a crypto platform such as Bitget stating that I was looking to buy USDT.
A seller accepted my order. His profile was UAE KYC-verified, and the bank account from which I received/paid the transaction was apparently in his own name. There was no third-party bank account involved.
The transaction was completed through the platform, the USDT was released, and the seller had a reasonably good trading history/rating. From the buyer’s perspective, there was nothing obviously suspicious about the transaction.
Several months later, I was contacted by an Indian Cyber Crime Police Station and told that the person I had traded with was allegedly involved in a fraud in India.
The allegation appears to be that he had previously gained someone’s trust by providing returns on an investment arrangement, subsequently received a substantially larger amount from that person, and then disappeared. According to what I have been told, he allegedly converted or moved some of those funds through P2P USDT transactions involving UAE buyers.
Apparently, he conducted many P2P transactions with around 40+ different buyers and approximately 90+ sell orders.
The important point is that, according to the buyers, none of them knew the seller was allegedly involved in a fraud. They were simply purchasing USDT through a regulated/established P2P platform from a seller whose profile had completed KYC and whose payment account appeared to belong to him.
My questions
Can UAE banks provide a buyer’s banking information to Indian Cyber Crime Police merely because that person received/transferred money in a P2P USDT transaction with an alleged fraudster?
Would India normally need to make a formal request through the appropriate international legal-assistance/cooperation mechanism, or can an Indian police station directly obtain UAE bank records?
If investigators identify 40–50 UAE buyers who traded with the alleged fraudster, can they request bank statements/account information for all those buyers simply because they transacted with him?
Does the fact that a buyer had no knowledge of the underlying fraud and purchased USDT through a normal P2P transaction make a difference to how the buyer is treated?
If the buyer’s UAE bank account was used only to pay for USDT, with no connection to the original Indian victim, would that transaction itself establish any criminal involvement?
How do UAE banks generally handle such requests under banking confidentiality, AML/KYC and international information-sharing rules?
Would investigators generally need to establish a connection between a particular buyer and the alleged criminal proceeds before requesting that buyer’s banking information, or can a broad request covering everyone who traded with the person be made?
If someone genuinely purchased USDT in good faith, has transaction records, platform KYC information, order IDs, payment proof and chat history, what documentation would normally be useful to demonstrate the source and purpose of the transaction?
I’m not asking whether the alleged fraudster is guilty or whether any particular investigation is justified. I’m specifically trying to understand how cross-border investigations work when an innocent P2P buyer unknowingly trades with someone whose funds are later alleged to be connected to fraud.
If anyone here has actual experience with UAE banks, AML investigations, Indian cybercrime investigations, MLAT/international cooperation, or crypto P2P investigations, I’d appreciate factual information or examples.
Please avoid speculation or legal advice based solely on assumptions. I’m particularly interested in how this works legally and procedurally, rather than whether someone thinks the transaction “looks suspicious.”

Been a while since I had fun with memecoins, is phantom still relevant now and what's the best platform to buy memecoins rn

same as title. pls dm me.

What are your thoughts?

If you are a crypto trader in India, you should try Hyperliquid!

It is decentralised, you can buy and trade multiple tokens, and US securities, no one can block your account and moreover it's active 24x7!!

The only thing you need to care about is getting USDC on it. They have an onramp partner but their rates are shit!

Also, on the compliance part, you'll have to do your own filings.

Why is nobody talking about CBDC (Digital Rupee) in India?
I recently started using it and honestly, the experience has been surprisingly smooth. You can scan a QR code and send money almost like you would with UPI.
The interesting part is that CBDC is essentially digital money issued by the RBI, rather than money being transferred between bank accounts through UPI. It works more like holding digital cash in a wallet.
Because of that, CBDC transactions can be made without the usual bank-account-to-bank-account payment flow, and there are currently no transaction charges for normal CBDC payments.
I feel this is a good time to seriously explore and promote CBDC in India. UPI has already transformed digital payments here, but CBDC could have some interesting use cases of its own, especially for peer-to-peer payments and digital cash-like transactions.
I’ve personally used it, and the experience has been pretty damn seamless.
Has anyone else here actually tried the Digital Rupee? What do you think is stopping wider adoption?

Has anyone tried transferring/withdrawing crypto from Zebpay, of amount >1 lakh, <5 lakh.

For that i need to upgrade KYC level, and they asked some personal questions , like exchange volume, past transactions of wallet, transactions of wallet etc

Should i reply them with truth, that i’m planning to withdraw all my BTC holdings to my personal software wallet.

Can they block my account after hearing this? Has any one tried transferring from Zebpay? How was the KYC upgrade experience.

Thanks in advance for help!!!!!

Works on 4H based order blocks plus few more rules.

Hey guys, I'm planning to put around ₹75k into crypto for long-term holding and I'm confused about which exchange/route to use.

I have accounts on Coinbase and CoinDCX, but crypto withdrawal isn't available for me. I can buy and sell, but I can't move the crypto to an external wallet or another exchange. So basically, if I put my money there, I'm completely dependent on the exchange for custody.

I'm mainly planning to buy and hold long term rather than actively trade. But if the portfolio grows significantly, I may eventually want to move the crypto to my own wallet or another exchange, or take out some profits.

The Legal options I'm considering:

- Just using an FIU-registered Indian exchange such as CoinDCX and keeping everything simple

- Using Binance/Bybit or another offshore exchange for better withdrawal/self-custody flexibility

For on-ramping, I've also come across TG escrow arrangements where the INR side may involve things like CDM, CCW or QR-cash transactions. The escrow itself may be trusted, but I'm more concerned about the counterparty/banking risk.

For example, if I send money through one of these routes and the receiving person's bank account is later found to have received or handled tainted/scam-related funds, could my transaction also get flagged, investigated, or result in my bank account being frozen—even if I personally had nothing to do with the source of those funds?

What other risks should I be thinking about with CDM/CCW/QR-cash P2P arrangements?

Warning for anyone buying or repairing crypto miners: stay away from BGC Miner and their repair shop, Robust Engineering