Bitcoin Forum

Is Bitcoin Income Taxable in India? Please speak from personal experience only.

Yes very much government has clearly stated last year itself that if you have earned any income form the bitcoin it is taxable and need to calculate profits on it. Also while filing your returns this year kindly ensure you include bitcoins profit earned.

It is just in the USA, not all countries have yet made it taxable to India. So, many might feel easy to trade in bitcoins in India.

We know that the concept of the bitcoin is very new to the market so the government is yet to launch the taxable rules. At the same time, you need to seek taxable income irrespective of the form in which you will receive it.

Yes, any gains from Bitcoin or any other crypto currencies are taxable. You'll need to pay taxes as per the tax slab you're in based on your yearly earnings.

Every income is taxable if it's not exempted, doesn't matter how you earned.

You may consider it under capital gain tax
 I think while filling return you have to show it under income.grom other source.column. but not very sure about it.

How much tax applicable on Bitcoin? Any idea,

Yes, You can treat it as your income so add this amount in your earning and pay tax as per your applicable slab.

In India bitcoin income is taxable under 20% tax slab of profit. Another clauses are also there for keeping less than one year or more than one year. At present Indian central bank has banned any transactions on cryptocurrencies. So any income is taxable in INDIA.

i had an experience where i couldn't use my account to deal in cryptocurrencies, i can't imagine them accepting it that easily without heavy taxes levied.

Everything you earn is taxable and bitcoin not exception , I filed it as Capital gains and filed successfully previous year and current year on going :)

This has same tax ,which applicable to other type income.
Of you are salaried person ,you just simple make this earning "earning from others sources" and fill in the ITR 1. You have been applied tax according to your tax slab.

Capital Gains tax and Income from other sources are two different heads. You can't show CG under Income from other sources.


It really depends upon the way you earned Bitcoin. Say, you bought 1 BTC from INR 3 lakhs and now it worth 5 lakhs then 5 less 3 i.e. 2 lakhs will be your capital gain. So you have to pay CG tax on 2 lakhs. Such CG tax could be long-term if you bought 1 BTC more than 3 years ago and is chargeable at the rate of 20% or it could be short-term if bought within 3 years and chargeable at the rate of your income slab.

If you never bought BTC and simply earned it via campaigns and bounties, you have to show such income under PGBP or Income from other sources. Listing such income as contract income under Profit from Business or Profession (PGBP) is better option since you can claim deductions and lower your tax while you have to pay tax on full income if you include it under Other Sources.

Recently, ClearTax launched service which could help you determining tax on Crypto Income. You can refer it too.