⭐ Merited by pakhitheboss (1)
I have this question for very long time especially when I see max trading limit on exchange goes even upto crores which means potentially people can convert how much amount they have in BTC to INR but there's no way someone who is selling huge amount is going to pay 30% tax and even 1% TDS seems too much considering the value in INR.
So what are the possible alternatives you think they convert BTC to INR if they wanted to.
Mostly all I see is going to Dubai set up a company and then transfer funds to INR but it's really feasible or how do you think they convert.
Let's speculate and bring in all your imagination guys.
So what are the possible alternatives you think they convert BTC to INR if they wanted to.
Mostly all I see is going to Dubai set up a company and then transfer funds to INR but it's really feasible or how do you think they convert.
Let's speculate and bring in all your imagination guys.
First of all a whale will never convert Bitcoin to fiat. If they do sell thier Bitcoin then they will use stablecoins. They will never use local exchanges for conversion or for trading as the volumes are far lesser than international exchanges. If you are not aware then let me inform you that whales never trade as retail investors do. They will use OTC service provide by a big International exchange. If you do a Google search you will find Binance provide OTC service. Whales are very smart and do know the loopholes that can be used to stay away from tax.