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Every transaction is reported to income…
Every transaction is reported to income tax and we have to file the tax returns in India. Because it is shown as capital gains instead of foreign remittance. Remit2Any is showing a 1% credit for Section 194S because of the method used to remit your funds to India, even though the source is foreign salary. Section 194S is a specific Indian tax provision for Tax Deducted at Source (TDS) on the transfer of Virtual Digital Assets (VDA) like cryptocurrency.



