Binance Referral Code in India

The tax regime

Two separate mechanisms apply, and they interact badly for active traders.

• 30% flat tax on gains from virtual digital assets, with no distinction between short and long holding periods.
• No loss offset. Losses on one asset cannot be set against gains on another, and cannot be carried forward.
• 1% TDS deducted at source on transfers above the threshold, which withholds cash on every transaction regardless of profit.
• No deductions other than the cost of acquisition — trading fees are not deductible.

The 1% TDS is the mechanism that most affects high-frequency trading: it applies per transaction, so a strategy turning capital over repeatedly pays it repeatedly, whether or not the strategy made money.

Perspective on the discount

Set the two side by side honestly. On a ₹100,000 spot trade, the standard fee is ₹100 and the referral discount saves ₹15. The 1% TDS on the same transaction withholds ₹1,000.

The discount is worth claiming because it is free. It is not a material factor in whether trading in India is economic — the tax structure is.

Getting INR in

Fiat rails for crypto have been inconsistent in India, and P2P is widely used as a result. Bank support varies by institution and changes over time.

Whatever route you use, the account you transfer from must be in your own name, and keeping records of every transaction is not optional given the TDS reporting.

This is general information and not tax or legal advice; the rules here change frequently and are worth confirming with a professional before you trade at size.