Bitbns, cryptocurrency exchanges and crypto systematic funding plans (SIP) platform, has introduced zero tax deducted at supply (TDS) on its SIP investments in cryptocurrency.
The initiative is to take away the taxation burden from the again of the traders while encouraging them to undertake SIP to leverage the advantages of rupee value averaging to counter volatility.
“Bitbns strongly believes in innovating and building new lucrative product opportunities for its investors, and we are delighted to introduce TDS-free SIP plans for our customers. Our TDS-free SIP plans will encourage investors to avail the benefits of an efficient wealth creation model while evading the burden of TDS,” Gaurav Dahake, founder and CEO, Bitbns, mentioned.
“It will also aid in portfolio diversification and reinvestment of returns, to leverage the power of compounding and generate attractive yields through long-term lock-in of investments,” Dahake acknowledged.
Bitdroplet is a platform by Bitbns that enables traders to put money into cryptocurrencies by way of SIP in a simplified and safe method. Investors availing of SIP for a minimal interval of 12 months can now make investments seamlessly with out worrying about paying the TDS. While there is no such thing as a minimal tenure for redemption, Bitbns will bear the TDS for SIP investments redeemed after 12 months, the corporate claimed. The change additionally introduced the introduction of 19 new tokens on its SIP platform, delivering traders better flexibility of their SIP investments.
Bitdroplet platform additionally offers a one-of-a-kind funding calculator, whereby traders can calculate the worth of their SIP investments for appropriate funding tenures.
Source: www.financialexpress.com”