Quote from: avikz on November 25, 2024, 05:17:23 PM

Quote from: bitnote on October 04, 2024, 05:48:33 PM

Hi everyone,
I have around 10L in USDT and i want to convert it into INR, and i never paid any taxes because i came below the tax slabs. And i don't have enough knowledge about finance and taxation. can you guys please help me how can i convert this crypto to INR without paying taxes?

Can i convert 1Lakh every month? can it be detected?
or what if i send the crypto to my Wazirx and convert 50 thousand every month?

please share ways to convert crypto to INR without paying taxes. the income is savings of 5 years i don't want it be halfed by paying taxes. thanks

Offshore p2p platforms should be able to help here. While I am reluctant to promote any specific name, but you can do your own research. Keep the amount very low and have an interval between two transactions. One lakh a month may put you under the radar so think of something around 20-40k per month.

However, I would not recommend you to avoid taxes at all. It may have repercussions later. So act wisely and consult a CA regarding tax related queries.

Even if he traded 10 one lakh trades and all in a month will not raise any flags in my opinion because IT department will be mostly looking for biggers transfer let's say 5 lakh per TX might raise some flag.

As you said I won't suggest the tax evading but it can be avoided with right strategies like transferring the funds to different user's account like family and relatives that we can trust.