I do use Indian exchanges to convert crypto to inr (money stays there momentarily) as I don't want to go through hassle of p2p (I have had bad experience with p2p dealings in past, which has left sour taste).
So you pay 30% tax?? OMG!
I have a question here. I guess Indian exchanges ask for the source of crypto you are trying to convert? I don't know as I have never used an Indian exchange.
Or are you allowed to fill your crypto wallet and covert them to INR after KYC verification?
I am asking this because I want to convert some of the signature wallet earnings to INR in future.
Coindcx will request for self declaration form in case of first time deposit for any coin. Usually there will be 3 options like exchange to exchange transfer or own wallet or 3rd person deposit, this info is mandatory.
Yes, once you fill up self declaration form, you can convert em to INR but make sure you already have verified profile, including face verification.
I don't know if its usually the case but there is a possibility of re verification if you are withdrawing big amount (above 50 lakh to crores), just don't panic. They only want to ensure if your account is legit and not compromised.