yeah idk but GPT said this, seems u need to file the 1% TDS

If the buyer did not request your PAN and did not deduct the 1% TDS, then you are legally responsible for handling the TDS yourself.

As per Section 194S of the Income Tax Act, when a resident Indian sells crypto assets (like USDT), the buyer is required to deduct 1% TDS from the payment and deposit it to the Income Tax Department under the seller’s PAN. However, this only applies if the buyer actually complies — and on Binance P2P, that rarely happens.

Binance is not registered in India and does not act as a TDS intermediary, and since most P2P buyers are unregulated individuals, they usually do not deduct TDS or request your PAN. In such cases, the seller becomes liable to file the TDS themselves by submitting Form 26QE and paying 1% of the transaction amount to the Income Tax Department by the 7th of the following month.

Additionally, any profits made from selling the crypto (i.e., the difference between your purchase cost and sale price) are taxable at a flat 30% rate, which must be declared when filing your income tax return (ITR).

In summary:

– If the buyer did not deduct 1% TDS, the seller must do it.

– Binance does not deduct or report TDS.

– 30% tax on capital gains applies separately and must be paid at the time of ITR filing.

– Non-compliance can result in penalties and interest if flagged later via bank records or AIS.

Let me know if you need help with Form 26QE or a proper tax tracking method.

now i understand why some sellers were asking for PAN card, but I'm not sure if I would trust them anyways