So what other options we have? After ban from RBI, it is not possible for any exchange to send money in users' accounts from its own account. WazirX is no difference. It is also a P2P network. I know P2P is not completely safe but I prefer using it for amount up to ₹50,000. Hackers mainly use hacked accounts for bigger trades hence you will find mostly genuine buyers for lower amounts.
I don't have many contacts over internet so P2P is my only solution at the moment.
I also sell Bitcoin for PayPal sometimes but this method has two drawbacks: first the exchange rates are not as good as P2P. Secondly, PayPal asks reason and source for any kind of receipt. So the reason you mention on PayPal has to match with your ITR which causes additional obligations.
PayPal asks receipt? Till date PayPal hasn't asked me and since we have no other option, I feel that trading BTC via PayPal is better than using USDT and at what rate do you trade PayPal? I usually trade 20% more than the value as PayPal charges around 10% fee (4.9% + 5% currency conversion fee). 1:1 PayPal is a complete loss.
So you are okay with their high fee,I never tried to use paypal due to their complex requirements,you can even convert your btc into paytm via lbc which seems very easy.