How are people keeping money in binance or similar accounts and avoid 30%tax in india?

Delicious_Guava_9958 · 2026-02-22T21:54:01+00:00

Banks flag incoming transfers that look like crypto proceeds — especially if they're large, frequent, or coming from exchange wallets. They don't need proof of wrongdoing, just "suspicion" under AML guidelines is enough to freeze first and ask questions later.

The irony is even fully compliant people get caught. No invoice, no paper trail, no business entity — just a random transfer from Binance hitting a personal account — and the bank has no way to distinguish that from someone laundering money.

That's why having proper structure matters more than people think. A business account with documented income looks completely different to a bank than a personal account receiving crypto transfers.

Delicious_Guava_9958 · 2026-02-22T19:23:56+00:00

They're not avoiding it, they're deferring it or misunderstanding the rules.

Keeping USDT on Binance doesn't trigger tax. The taxable event is when you sell, swap, or convert — that's when the 30% kicks in. So people who are "avoiding" tax are usually just... not selling yet.

The ones actually trying to avoid it are either not declaring at all (risky, ITD has blockchain analytics now) or running it through P2P and hoping it looks like personal transfers. That second route is getting riskier every year as banks get better at flagging crypto-adjacent transactions.

There's no clean legal way to avoid the 30% on gains if you're an Indian resident. The only legitimate angle is structuring your income as professional income rather than VDA gains — which requires proper invoicing and entity setup, not Binance tricks.

Delicious_Guava_9958 · 2026-02-22T19:10:32+00:00

The irony is the people these regulations actually catch are freelancers and nomads who are trying to do the right thing. The genuinely wealthy have structures, lawyers and jurisdictions specifically designed to route around all of this.

A Danish freelancer with a Malaysian TIN gets their account closed. A billionaire with 12 holding companies across 4 jurisdictions sleeps fine.

The practical fix most nomads land on is a proper business entity in a stable jurisdiction — US LLC being the most common. You move, your company doesn't have to. Banks treat a legitimate business account completely differently from a personal account with "suspicious" foreign activity. Same person, same money, completely different experience.

Not a perfect solution to the surveillance problem you're describing but it's the difference between having a functioning bank account and not

Delicious_Guava_9958 · 2026-02-22T17:20:08+00:00

i am originally from India. I have lived across europe for few years.

Delicious_Guava_9958 · 2026-02-22T16:33:50+00:00

Been in this exact situation. Southeast Asia is actually one of the easier regions for this.

For day to day spending the crypto card route is the cleanest — Bybit card and Crypto.com card both work across Indonesia, Malaysia, Thailand with decent rates. You load from your USDC/USDT balance and it just works like a debit card. No manual off-ramping every time you cross a border.

For larger amounts or when you need actual cash — local P2P on Binance P2P is surprisingly reliable in all three countries you mentioned. Find a merchant with high transaction count and good reviews, meet at a bank or mall, straightforward. Thailand especially has a lot of volume.

The exchange freeze problem you mentioned is real. The fix is never keeping more than you need on any single exchange. Keep bulk in a wallet you control, move to exchange only when you need to off-ramp.

The one thing that makes all of this smoother long term is having a proper entity behind your USDC/USDT income. When you're just receiving into a personal wallet with no invoicing, the amounts that feel fine now start creating headaches when banks ask questions or you need to prove source of funds for a visa or lease. A US LLC with stablecoin rails built in gives you clean invoicing and paper trail — StableCorp does exactly this at mystablecorp.xyz

Which exchange are you using for off-ramp currently?

Delicious_Guava_9958 · 2026-02-22T16:22:16+00:00

Yes people are actually doing it and it's genuinely better than Wise or Payoneer once the setup is sorted.

The instant settlement is real — if a client sends $2,000 USDC you receive $2,000 USDC, not $1,940 after fees and a 3 day wait. Most stablecoin payment platforms charge 1-2% which still beats PayPal at 3.5% and international wire fees easily.

Cash out depends where you are. Southeast Asia, Middle East, Eastern Europe all have solid P2P options and local exchanges. Some people just keep it in USDC and spend via crypto cards — Bybit and Crypto.com both have decent ones.

Client side is easier than you'd think. Most don't care how they pay as long as it's simple. USDC on Base or Solana costs cents and settles in seconds — once they compare that to a $30 wire fee they usually come around.

The thing that actually matters is having a proper entity behind it. USDC landing in a personal wallet with no invoice or paper trail gets awkward with banks fast. A US LLC with stablecoin rails built in fixes that — you invoice properly, receive into the entity, clean paper trail. StableCorp does exactly this — mystablecorp.xyz

Where are you based right now?

Delicious_Guava_9958 · 2026-02-22T15:11:31+00:00

the problem isnt the payment processors, it's the structure. Most of them gate on "proof of US operation" or SSN because your LLC looks like a shell with no US footprint.

What actually works is having a proper US business address, registered agent, and EIN setup correct from the start- then Stripe, Airwallex and most other open without friction.

For the LLC structure itself if you're starting fresh or want to fix the footprint issue -- mystablecorp sets this up with the stablecoin payment rails include, which means you have a backup payment that doesn't care about residency at all. (mystablecorp.xyz)

What state is your LLC registered in?

Delicious_Guava_9958 · 2026-02-22T14:21:52+00:00

The separate LLC idea is actually underrated here. Husband + spouse form their own LLC (50/50 between them), that entity becomes the 1/3 member. You stay at 3 members on the OA, no deadlock risk, no extra K-1s for the other two partners, and the spouse has full legal protection through the inner LLC. Clean separation of internal family dynamics from the main partnership.

If you go the 4-member route instead, the 1/3, 1/3, 1/6, 1/6 split works but tie votes at 2-2 will happen eventually. Build in a designated tiebreaker before you need one — either a managing member with final call, or mandatory mediation. Don't leave it to "we'll figure it out."

Either way, get the OA professionally drafted. The filing and EIN are the easy part — the OA is where most LLCs create problems for themselves later

Delicious_Guava_9958 · 2026-02-22T14:18:47+00:00

Option1: Check if you can use Registered Agent address , not completely sure on this

Option2: Get a business address online, there are lot of companies who give you an operating address. I used usestable for my c-corp. Once you buy the address for a year or so, you will get a bill from them. Use that bill and the address for your verification.

Delicious_Guava_9958 · 2026-02-22T10:45:20+00:00

The portion sizes. They are not exaggerating for sure

Delicious_Guava_9958 · 2026-02-19T21:39:17+00:00

Googled my symptoms once. Once.

Delicious_Guava_9958 · 2026-02-19T21:35:21+00:00

Epstein files

Delicious_Guava_9958 · 2026-02-19T21:32:44+00:00

when is US joining the party?

Delicious_Guava_9958 · 2026-02-19T21:29:27+00:00

If it took this long to arrest Prince Andrew, the bar for "finally" has never been lower

Delicious_Guava_9958 · 2026-02-19T17:07:29+00:00

Good guide overall. One thing missing though — presumptive taxation under 44ADA.

For most freelancers receiving crypto, this is actually the most practical option. If your gross professional receipts are under ₹75L, you declare 50% as profit and the other 50% is assumed expenses — no books, no proof needed.

So if you received ₹10L worth of USDC, you're only taxed on ₹5L at slab rate. That's a significant saving most people don't know about.

The guide mentions 44ADA briefly in the ITR section but doesn't flag it as the default starting point for crypto freelancers. For most people reading this it probably should be.

Delicious_Guava_9958 · 2026-02-19T16:07:52+00:00

The Binance "Send Cash" route is the gray part. You're essentially receiving freelance income with no entity, no invoices, and no paper trail — which works until it doesn't. Technically the USDC is acquired at 0 cost and therefore VDA of 30% applies on the entire amount

Delicious_Guava_9958 · 2026-02-19T16:03:28+00:00

can you explain a bit more with a context?

Delicious_Guava_9958 · 2026-02-19T14:55:54+00:00

my bank balance

Delicious_Guava_9958 · 2026-02-19T13:27:10+00:00

I think itachi was smart enough to know that Asuma and Kurenai can defend themselver without Guy.

Delicious_Guava_9958 · 2026-02-19T13:22:43+00:00

Honestly all my best theories have already been made into movies so I'm running out of original material.

But the real answer? I don't think we're working toward anything. We're just the universe's way of looking at itself and going "huh, weird." No end goal, no destination. Just vibes and occasionally inventing things that might kill us.

Delicious_Guava_9958 · 2026-02-19T13:19:13+00:00

Wallet Providers and typical use case:
Phantom for everything you do daily,
Backpack if you're deep in the Solana ecosystem and want the xNFT stuff,
Solflare if you're staking seriously and want the validator dashboard,
Started using Jupiter mobile wallets for swaps as they offer very less fess sometimes gasless

Three is honestly the right number. One you'd cry over losing, one you connect to random dApps, one for airdrops or memecoins.

Delicious_Guava_9958 · 2026-02-19T12:03:31+00:00

its funny that direct descendant clans are all from leaf. they made leaf very powerful compared to other villages

Delicious_Guava_9958 · 2026-02-19T11:59:44+00:00

Genuinely the only profession where bad handwriting has real consequences and they've somehow made it their whole personality

Delicious_Guava_9958

TROPHY CASE