Bitbns introduces tax shield to 'avoid' TDS on SIP investments in cryptos

economictimes.indiatimes.com:

crypto trading platform Bitbns has announced Zero TDS on its SIP investments in cryptos. The initiative aims to remove the taxation burden from the investors, encouraging them to undertake systematic investment plans (SIP) to leverage the benefits of rupee cost averaging to counter volatility. Investors availing of SIP for a minimum period of 12 months can invest without worrying about paying the TDS. While there is no minimum tenure for redemption, Bitbns will bear the TDS for SIP investments redeemed after 12 months.

Did you Know?

In the wake of the crypto market crash, the prices of hardware used to support the mining of crypto assets are also falling dramatically. For example, a high-end graphic card is now almost 45% cheaper compared to its price a few months ago.

Bitdroplet, an initiative from Bitbns, allows investors to invest in cryptos via SIP in a simplified and secure manner. Bitbns claims to be India's largest crypto SIP platform. Bitdroplet platform is a tool that provides an investment calculator wherein investors can calculate the value of their SIP investments for suitable investment tenures. The platform has more than 2,00,000 active crypto SIP folios. The exchange has announced plans to introduce 19 new tokens on its SIP platform, delivering investors greater flexibility in their SIP investments. Crypto SIP is similar to regular SIP in mutual funds, allowing one to invest a fixed amount in crypto at regular intervals. Investors can avail themselves of daily, weekly, or monthly installments based on one's investment appetite. Gaurav Dahake, Founder & CEO, Bitbns, said, “We strongly believe in innovating and building new lucrative product opportunities for its investors, and we are