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What about NRIs .
IF I can buy in EUR and then sell it in INR into NRE Account?
Usually any amount deposited in NRE account is tax free in india ?
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HI Guys,
There are lot of new Coins like TaaS which gives back dividends in form of ETH every Quarter. How are they treated in German Taxation. Do I have to hold it for more than a year to make it tax free or can I convert to fiat or exchange to other alt without considering 1 year period.
Is this divident received equal to mining ?
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HI folks,
Sorry for writing in English, my german is not good.
My kraken account got hacked and I lost all my investments. I am worried that if I have to pay taxes on the transaction done by the hacker ? the hacker converted all my coins to Bitcoin and moved it to another wallet.
how do I convince this to tax authorities and what c an be done regarding this.
go to the german police and report the theft then you have written proof and the law will investigate this way you can proof to the finanzamt that u lost money and not gained anything Not really aware what should I tell the police. My Bitcoins were robbed ? |
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HI folks,
Sorry for writing in English, my german is not good.
My kraken account got hacked and I lost all my investments. I am worried that if I have to pay taxes on the transaction done by the hacker ? the hacker converted all my coins to Bitcoin and moved it to another wallet.
how do I convince this to tax authorities and what c an be done regarding this.
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Clearly Shahid Mehmmod dosent have knowledge about what the bitcoin is. 1. Bitcoin has limited supply, after which mining stops. 2. Bitcoin can be divided into infinitely small numbers. Regarding bitcoin being distributed unevenly, you can look at INR and $ too 1 % of Population holds 50 % of the money. And Money makes money. 3. Regd virus clearing out everyones bitcoins... thats almost laughable. Rem bitcoins are not located at one particular location , infact they are distributed across several nodes. And that is precisely why its better than fiat. |
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I am just looking at registering at one of the indian bitcoin exchanges. I am trying to use it as a way to remit my USD to INR. Lets see how it works out.
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All Indian banks which have IFSC code.
Regards
Zebpay team
Does zebpay supports depositing money in NRE acct ? |
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I have read that Suppose if Alice goes from India to work in Dubai, Quatar or most of foreign nation, the income earned is completely tax free in India.
This happens because you are bringing foreign currency to India and therefore helping the nation by providing foreign reserve.
Yes, Income earned by an Indian resident who has been working in a foreign country is completely tax free, only if he has been working for more than 6 months. (I think) This income will be taxed by the foreign government, and therefore, will not be taxable in Now why cant the same apply for bitcoin, if bitcoin is regarded as a currency then you are contributing to the circulation of bitcoin in the nation when you sell them..
So on this basis , can bitcoin also become tax free
Bitcoin is NOT regarded as a currency (as of now). People disclose it as an asset/investment and have to pay Capital Gains tax, if they profit from it. Hope this helps. Again What kind of asset. CAn I treat Bitcoin as Property- Then Short tem capital Gain till 3 yrs Can I treat Bitcoins as Stocks - then Short term capital gains till 1 yr and then tax free. Who decides , what kind of asset it is. |
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You're NOT violating FEMA or any other law by encashing BTCs at Indian Exchanges yet. The same applies for mining bitcoins in India. As of now ordinary income tax applies for both cases. What kind of taxation. If I am remitting money in my own NRE account , I dont pay any taxes on those amount. all the proceeds are tax free. Intrested to know if I can buy BTC with USD/CAD and sell BTC in INR. Then how will the tax play out. Do i pay tax in say canada or in India. There is no basis of paying in canada , because I never sold anything in CAD. And my INR deposited are technically remittance which are not taxed. |
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Da interessiert mich jetzt aber Deine Argumentation.
Du hast die besagten 0.7 BTC für 1750€ erworben und nach einem Monat für 2500€ veräußert,
inwiefern machst Du da eigentlich keinen Gewinn?
Ich habe mir das so gedacht: Ich habe 2500€ reingesteckt und 2500€ wieder rausgeholt ... 2500€-2500€=0€, also kein Gewinn ... natürlich habe ich ja noch die 0,3 BTC (als Gewinn) aber die kann man doch zu dem Zeitpunkt eigentlich nicht als Gewinn berechnen, da die theoretisch am nächsten Tag 0 € wert sein könnten oder verschwunden sein könnten usw. ... wirklich ein Gewinn wird das doch erst wenn man's zu Geld macht (Fiat), hätte ich jetzt mal so gedacht ... Ich kaufe mit den Bitcoins, die ich am 01.01.2017 gekauft hab, Altcoins. Dann am 02.01.2018 tausche ich die Altcoins wieder in Bitcoins und verkaufe diese dann für Euros. Was ist dann? Muss ich Steuern zahlen?
Ja. Auf evtl. Gewinne beim Verkauf der Bitcoins für Altcoins musst Du Steuern zahlen. Auf evtl. Gewinne beim Verkauf der Altcoins für Bitcoins musst Du Steuern zahlen. Auf evtl. Gewinne beim Verkauf der Bitcoins für Euros musst Du Steuern zahlen. Willst Du das vermeiden, darfst Du für die 2017 gekauften Bitcoins erst 2018 Altcoins kaufen, für die 2018 gekauften Altcoins erst 2019 Bitcoins kaufen und für die 2019 gekauften Bitcoins erst 2020 wieder Euros kaufen. Wobei ich natürlich davon ausgehe, daß der jeweilige Kurs auch steigt, für Verluste zahlt man ja eher wenig Steuern.  hat vielleicht jemand was offizielles Einkommensteuergesetz (EStG) § 23 Private Veräußerungsgeschäfte (im Sinne der " Arten der sonstigen Einkünfte" §22 2) sind .. ..Veräußerungsgeschäfte bei anderen Wirtschaftsgütern, bei denen der Zeitraum zwischen Anschaffung und Veräußerung nicht mehr als ein Jahr beträgt. Vielen Dank für die Antwort . Is there some minimum profit after which i have to report the tax , some 600 EUR ? I made a very tiny trade of buying BTC for 100 EUR and converted to LTC when the BTC was 120 EUR. Do I need to show this in my tax statement , or its ok. Still holding LTC, so no more trading done. |
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Personally I use kraken. Its good.
No verification needed if you only trade crypto to Crypto.
Polo gives a wide variety of coins.
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One of my friends has received some very good returns on his ETH. We discussed about how this should be declared for tax purposes.
Since India hasn't classified what kind of an asset crypto is, we looked up to next best thing, USA regulations. USA says crypto is a capital asset.
In India if you buy & sell capital asset within 3 years period, it is short term capital gain. If difference between buy & sell date is more than 3 years, it is long term capital gain.
STCG has 30% tax and LTCG has 20% tax.
So my friend decided to sell his ETH 3 years after the purchase date, so that he can pay 20% tax, instead of 30%
I think this makes sense until there are formal regulations.
I dont think regulations can be just copy pasted from one country to other. If thats the case, lot of other countries provide favourable regulations. I guess netherlands or Swiss has the best one. GErmany has a simple regulation, if Stored for more than 1 yr, tax free else 25 %. |
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is there any Tax on Bitcin Buy/Sell done through NRE acct.
AFAIK , and dep or withdrawal in NRE acct is Tax free. how will it wrk if I buy in USD/CAD and sell in INR ?
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I am Reffering To German tax law
And 1 btc to 1000 Altcoin just means you buy any altcoin
In Germany you only have to pay tax when you sell with profit.
But as mentioned this is the German part of the Forum. And you may have different tax laws.
If you sell with profit both the risen btc price as well as your altcoin profit will be relevant for tax
HI Null coiner I am asking about the german taxation . I stay in Germany but not so good in GErman language. my question is . my question is . Day 1 : i but 1 BTC for 100 EUR. Day 2 : I buy 1000 ALT for 1 BTC. But that time rate of BTC in EUR is 150. DO I pay tax for 50 EUR ? |
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HI Everyone,
I want someone to clarify this. ( Sorry i cannot write in deutsch)
1. I buy ETH on Exchange 01.01. 2016 --> Move it to my paper wallet on 02 Jan 2016. keep it for 1 year. Move back to Exchange on 02 Jan 2017 and get it converted to EURO on 03.Jan 2017.
Am I taxed on transaction on 02 jan 2016 to my own wallet and back ?
If no tax then ...
Am I taxed if : I buy ETH on Exchange 01.01.2016 . --> Send my ETH to someone else's wallet for some services given ?
HOw does tax man get to know which is my wallet and which is not ?
Since in this forum most users are from Germany, Austria and Switzerland, you will get only useful answers here, if you are in one of these countries obliged to pay taxes. Hi, I want to know about germany taxation , but cannot write in German. |
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Ich habe immer noch nicht verstanden, wie ich versteuern muss, wenn ich BTC in Altcoin tausche, und diesen Altcoin in weniger als einem Jahr zurück in BTC tausche.
Muss ich für den Kauf des Altcoin schon Steuern zahlen?
Wenn ich den Altcoin dann in angenommen 2 BTC tausche, welche Steuern fallen dann an?
Und ist hier jemand bei cointracking.info angemeldet? Dort steht ja, dass die Steuern auf alle Trades automatisch berechnet werden. Funktioniert das und wird von Steuerämtern so akzeptiert?
ohne Gewähr, denn ich bin nicht vom Fach, es gibt unzählige Artikel hier im Forum, und letztlich kann ich Dir nur raten ab einer Gewissen Höhe Dir fachliche Unterstützung einzukaufen:-) Soweit ich es verstanden habe, muss Du den Gewinn beim Veräußern versteuern, und zwar deiner Einkommenssteuer entsprechend, wenn Du die Haltefrist von einem Jahr nicht hast. In deinem Beispiel müsstest Du 1 BTC aus Altcoingewinn +- BTC Kurs und Gebühren versteuern (deinem Einkommenssteuersatz entsprechend, Steuerklasse, ledig/verheiratet Kinder, etc. volles Programm). 1BTC in 1000 Altcoins (keine Steuer, kein Gewinn) 1000 Altcoins in 2 BTC (1 BTC Gewinn, also versteuern, und zwar den FIAT Wert.) Von deinem Gewinn kannst Du entweder einen niedrigeren BTC/EURO Kurs abziehen, oder musst einen höheren Kurs als Gewinn hinzurechnen, abzüglich jedweder Gebühren. Ich bin auch erst seit Anfang des Jahres dabei, und werde wohl wenn ich "Glück habe", in meiner nächsten Einkommensteuererklärung eine Gewinn und Verlustrechnung meiner Trades aufführen und dann den Gewinn versteuern. Ehrlich gesagt, bin ich ernsthaft am überlegen, ob sich der ganze Stress und die Aufregung rentieren. Bei ICOs sieht's meiner Meinung wieder anders aus, weil man da ja ohnehin auf längere Sicht investiert, also das Jahr zum Rücktausch in BTC und dann ein weiteres Jahr von BTC in EUR, oder, was natürlich genial wäre, wenn man den Altcoin gleich in EUR umtauschen könnte, dann würde man sich nämlich ein Jahr sparen:-) Zu cointracking.info kann ich leider nichts sagen. Hier noch ein Link, wo es recht gut erklärt ist, ich hoffe das ist noch aktuell so, da steht auch was übers mining http://www.jurarat.de/steuerrechtliche-bewertung-von-bitcoinsHI Null coiner. Can you explain this then. 1BTC in 1000 Altcoins (keine Steuer, kein Gewinn)  For eg : You buy on 01.01.2017 1BTC = 100EUR (Current Alt coin rate is 1 ALT = 0.0001 BTC) then on 02.01.2017 1BTC = 150 EUR. You buy 1 BTC = 1000 Altcoin. ( Isn't there a profit of 50 EUR, since the exchange rate between BTC and EUR has changed) Also how will it work say Altcoin is ETH . SO you have a transaction x BTC = y ETH. HOw will you tax this transaction? By comparing BTC to EUR or ETH to EUR ? |
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HI Everyone,
I want someone to clarify this. ( Sorry i cannot write in deutsch)
1. I buy ETH on Exchange 01.01. 2016 --> Move it to my paper wallet on 02 Jan 2016. keep it for 1 year. Move back to Exchange on 02 Jan 2017 and get it converted to EURO on 03.Jan 2017.
Am I taxed on transaction on 02 jan 2016 to my own wallet and back ?
If no tax then ...
Am I taxed if : I buy ETH on Exchange 01.01.2016 . --> Send my ETH to someone else's wallet for some services given ?
HOw does tax man get to know which is my wallet and which is not ?
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