The post Crypto News India: India Targets 400 Binance Traders in Massive Crypto Tax Evasion Probe appeared on BitcoinEthereumNews.com.

India launches major probe into 400 Binance traders accused of crypto tax evasion, signaling tougher enforcement against offshore trading activity. Indian tax authorities have initiated a major tax evasion probe. They are investigating more than 400 high-net-worth Binance traders. These people are alleged to have avoided the relatively high crypto taxation in India. The tax dodging was done as they traded on the world’s largest cryptocurrency exchange. This large study is a sign of a serious regulatory emphasis. Tax Authorities Decrypt Offshore Binance Trades The traders are suspected of non-taxation of profit. These trades were made between the fiscal years 2022-23 and 2024-25. The request for action came from India’s Central Board of Direct Taxes. Specifically, they wrote to departments in other cities and requested that they report their progress. They placed an internal deadline of October 17 for these reports. Related Reading: India to Adopt Global Crypto Tax Reporting Rules by 2027 | Live Bitcoin News At least 400 high-profile people all over India are targeted. The tax authorities will now be ready to bring these citizens to light. They are said to be actively engaged in concealing their crypto transactions. As such, many did not reveal digital coins owned in foreign wallets. This helped them evade major local taxation. Many HNW individuals used offshore services such as Binance. They had the misconception that they could get away from crushing taxes. The total tax on crypto profits is very high in India. The general range of the weight is from 33% to 38%. Under the previous tax regime it was as much as 42%. This high rate comes with a compulsory 1% Tax Deducted at Source (TDS). This 1% TDS is charged on each crypto sale transaction. As a result, tax burden is one of the highest in the…

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Filed under: News - @ October 12, 2025 12:20 am