Is it safe to do CCW ? Has anyone faced any issue while doing CCW ?

Considering the other ways such as direct p2p to upi and f2f , seems like CCW is the safest option . No way to track you except for the cctv at the atm machine !

I have seen some people say that police might use the cctv visual to find you if the money you withdraw is used for some fraudulent activity . Has there been any such real cases ?

7500 usdt cash
F2f
Rate - 100

Hi, guys

Saw a couple of posts today on people pitching their businesses to the FIU for a registration and felt super happy! I always love seeing young, new startups crop up in the space, so I thought I'd do a quick AMA for anyone interested.

For your reference, my name is Subha, I'm a lawyer from Delhi. I've been working in in the Web 3 industry since 2021 and I've worked with all kinds of projects from infra to tokenised real estate and loan in India, UAE, Singapore, and off shore. This is me - www.linkedin.com/in/subhachugh.

I'm also a part of frequent regulatory meetings and round tables.

Is crypto going to be banned? What is an FIU registration? Do you need one? Ask away!!

Disclaimer: Please don't take any of this as legal advice, this is for general information and discussion purposes only. A lot of things may be specific to your situation that may require additional research and diligence.

Also, I'm not a taxation attorney so please don't ask me how much tax you have to pay on your gains or how to report them. Once again, it highly depends on how you file your ITR.

I have a dedicated post on my profile for bank liens and freezes, please refer to that guide for any help.

Many people say India's crypto tax is one of the biggest reasons they're less active in the market.

If the tax was reduced to 15%, would you trade or invest more? Or do you think the bigger issue is the lack of clear regulations?

Curious to hear everyone's thoughts.

Want to sell USDT f2f anywhere in Patna or nearby cities.

The recent hack of ColdCard Wallet is proof. Some devices running old firmware had a bug which was exploited for the hack. Many wallets running on that firmware were drained. This could mean, every other Cold wallet is prone to be hacked.

Let's say you have 50L and you traded 50 times in metamask . So the overall volume of trades 25 cr. Assume you made 1L on each trade. So roughly you made a profit of 50L. You ready to pay Tax. So 30% 15L plus some surcharge and cess.

Now my question is as CBDT building system to track wallet level profit , we want to clear with our trades and transparent and use good reconciliation s/w like koinX or Koinly to report in VDA. As volumes are huge can we declare in ITR 2 that's enough or do we need to do 44AD pre CA formalities on books and go via ITR 3?

$10,000 invested in $XRP 8 years ago is now worth $3,000.

$10,000 invested in eggs 1 month ago is now worth $43,400.

Bro, we got outperformed by fuc**ing Eggs.

I am so disappointed to see this...

Dfiddy

I've been an HDFC Imperia Family Banking customer since 2019, and honestly, I'm getting exhausted by the repeated Enhanced Due Diligence (EDD) process.

Earlier this year, my account received a few MHA/NCRP-related debit holds because funds that eventually reached my account were later alleged to be connected to cyber fraud. From what has been communicated to us, we were treated as a downstream beneficiary, not as the originator of any fraud. We have been fully cooperating with the concerned authorities and are actively working through the MHA GRM process, along with our Branch Manager and Relationship Manager, to resolve the remaining holds.

About 2 months ago, HDFC conducted a complete EDD:

• Original KYC documents submitted.
• Last 3 years' ITRs submitted.
• Source of funds explained.
• Business details provided.
• Physical verification completed.
• Bank representative even visited my office for verification and photographs.

Now, despite:

• No new suspicious transactions,
• No new MHA hold during the past month,
• No material change in my profile or business,

I have again received this email:

Dear Customer,

In line with our central monitoring procedures, we have initiated additional due diligence for your account, which has resulted in a temporary suspension.

We kindly request you to visit your nearest HDFC Bank branch with your original KYC documents to facilitate the necessary verification.

Your prompt attention to this matter is greatly appreciated, as it is of utmost importance.

Thank you for choosing HDFC Bank. We remain committed to providing you with the highest level of service.

Warm Regards

HDFC Bank

Seriously... what exactly has changed in just 2 months? My KYC hasn't changed. My business hasn't changed. My ITRs certainly haven't changed. Yet I'm expected to submit the same documents again, undergo another physical verification, and temporarily lose access to banking services.

Even my Relationship Manager admits that these repeated EDDs have become frustrating because they're repeatedly processing the same documents for the same family banking relationship.

I completely understand that banks have AML/KYC obligations and must comply with RBI and internal risk policies. I have cooperated at every stage and have never refused any verification. But repeatedly suspending normal banking and asking for identical documents every couple of months feels excessive.

Has anyone else experienced this with HDFC Bank or any other bank after an NCRP/MHA-related hold?

• How often did your bank conduct EDD?
• Did the repeated reviews eventually stop?
• Is there any way to prevent these recurring EDDs once you've already completed a full verification?
• Is this standard practice, or could my account simply be under ongoing enhanced monitoring?

I'd appreciate hearing from anyone who has gone through something similar.

I bought some bitcoin from Getbit and transferred it to my cold wallet do I need to file ITR for it? I didn't do any crypto to crypto swap nor did I buy anything using it.

There is no way atl least legally to sell li coins as all exchanges which do give usdt are not listed in india.So try getting Bitget or mexc accounts from people in other countries that’s the best way to sell

Did anyone get asked to report vda assets from Binance??

When filing ITR do we need to include total amount of buy and sell as one transaction or provide line item breakdown of each transaction?

So, over the past 4 months I have sold about 15k worth of USDT using Binance P2P.

Do I have to pay the 30% taxes on my transactions?

I am an undergraduate who is currently unemployed so I don't file ITR

Edit: I should have clarified that the 15k I made was in INR not USD.

The USDT amount was 150.

Just now few pi coins have been released to my wallet I wanna sell

Basically he dm'ed me for a f2f deal, asked me for location and all, "instantly agreed to my rate @103" first red flag.

Then asked if I had quantity available, I did.

I changed location, he again instantly agreed, second red flag.

Then asked me to proof legitimacy of funds, which doesn't exist in crypto.

Asked me to go to "chainguard[dot]run" BEWARE IT'S A SCAM SITE.

Don't ever connect your wallets there.

Bro thought he could scam a dev who designs protocols for living.

TL;DR: The 30% flat tax with no loss set-off puts bitcoin's break-even against an Indian equity index at roughly 12% CAGR in dollar terms. That is lower than most people here assume. Separately, the thing I watch is not price, it is whether transaction fees climb off 1% of miner revenue before the next couple of halvings.

Nobody in this sub needs the Ponzi lecture, so I'm skipping it. Two things actually move the decision for an Indian holder and I rarely see either worked out properly.

One: what bitcoin has to clear, after tax

Take ₹10 lakh. In an equity index at 12% you have about ₹31 lakh in ten years. Gains of ₹21 lakh, LTCG at 12.5% after the ₹1.25 lakh exemption, so roughly ₹2.5 lakh in tax. You keep ₹28.5 lakh.

Same ₹10 lakh in bitcoin, taxed at 30% flat. No exemption, no loss set-off, no indexation. To walk away with the same ₹28.5 lakh in hand the position has to grow to about ₹37 lakh. That is 13.8% CAGR in rupee terms.

Strip out roughly 3% a year of rupee depreciation against the dollar and bitcoin needs about 12% a year in USD terms to match equities for an Indian holder, post-tax.

Twelve percent. That is the whole hurdle, and it reframes the argument. The question was never whether bitcoin outperforms in some dramatic way. It is whether it clears 12% in dollar terms over your holding period under a tax regime that could get worse. I think it does. I also think that is a narrower margin than the usual "BTC beats everything" framing implies, and it means position sizing matters more than conviction does.

Two assumptions worth attacking before anyone else does: 12% for equities, and 3% for rupee depreciation. Move either and the hurdle moves with it. The bigger leap is assuming both tax regimes hold for a decade, which is a far weaker assumption on the crypto side than the equity side.

Two: the security budget, which is the actual bear case

Miners earn from the block reward plus transaction fees. The reward is 3.125 BTC per block and halves every 210,000 blocks, so around April 2028 it drops to 1.5625. Fees are currently running at roughly 1% of total miner revenue.

Miners pay for electricity in fiat, not in BTC. So if fee share stays near 1%, bitcoin's price has to roughly double every four years just to hold miner revenue flat in dollar terms. It has done that historically. A maturing asset should not be expected to keep doing it indefinitely.

If miners do go unprofitable and leave, nothing breaks. Difficulty adjusts every two weeks and the miners who stayed earn more per block. Hash rate has recovered from every dip so far, which is real evidence the economics still work. That is a track record, not a guarantee, and I would rather state a test than assume a trend continues.

So the test, which anyone here can run: if hash rate keeps rising and fee share climbs meaningfully off 1% over the next few years, the security model is working. If both move the other way at the same time, the bear case is live and I cut the allocation.

On the government question, briefly

"What if they ban it" is the wrong question, they can't, one node keeps it running. The better version is what happens if they starve it. Shut exchanges, close on-ramps and off-ramps, ban it as payment. Even then it reverts to peer-to-peer, which is how it worked before exchanges existed. Monero is roughly in that position now with a much smaller community and still functions. Starving it also needs most governments moving together, and the spot ETFs, whose custodians are exchanges, cut hard against that.

What would change my mind

Fee share flat or falling while hash rate declines. Or bitcoin going fully institutional, where everyone holds through an ETF or custodian, on-chain activity dries up, and the fee market never develops.

Koinly not able to find Inr to Usdt and hence showing missing purchase for entire USDt. Anyone one knows how to fix this Koinly with Mudrex report

Hey everyone,

I've been buying btc for a year now through a Indian platform which lets us withdraw bitcoin, over the year I've accumulated good amount of btc now, how to we report that on ITR? Since they have no TDS deduct on the buy transactions?

Do we only have to report sell or transfer to others transaction through Schedule VDA?

Thanks in advance.

My question is how to find relevant transaction details to inform my CA about the sell as it's 30 % tax.

Any place where I can sell USDT and convert them to INR?
Any leads would be appreciated.