India may ban Bitcoin

[djbabu]

1) Taxation
https://m.timesofindia.com/business/india-business/i-t-will-tax-bitcoin-trade-has-issued-few-lakh-notices-cbdt/amp_articleshow/62755763.cms

https://timesofindia.com/business/india-business/it-notices-to-4-5-lakh-individuals-trading-in-bitcoins-across-the-country/amp_articleshow/62121048.cms

https://cleartax.in/s/bitcoins-taxes-india

2) You should have read the disclaimer about investing in Crypto Currencies, Crypto Currencies are speculative investments, no one guarantees profits.


3) I couldn't give a flying fuck what zebpay's business model is or was, because i don't use it, nor do I need it.

Dear Friend

Looks like i don't know English very much but cleartax clearly used the term "would be" and "may" Which means they also dont sure that xyz type of tax we need to give.

And for the fucking notice is for traders who heavenly invested like 10+ lacs in bitcoin nothing new about it

So still you r not provided proof any thing new here just false if but may be infos . If you go court with this info they will surely kick you out, Discuss on facts

Tell me a single gov doc  where gov says pay tax for your bitcoin .

[Somz1]

1) Taxation
https://m.timesofindia.com/business/india-business/i-t-will-tax-bitcoin-trade-has-issued-few-lakh-notices-cbdt/amp_articleshow/62755763.cms

https://timesofindia.com/business/india-business/it-notices-to-4-5-lakh-individuals-trading-in-bitcoins-across-the-country/amp_articleshow/62121048.cms

https://cleartax.in/s/bitcoins-taxes-india

2) You should have read the disclaimer about investing in Crypto Currencies, Crypto Currencies are speculative investments, no one guarantees profits.


3) I couldn't give a flying fuck what zebpay's business model is or was, because i don't use it, nor do I need it.

Dear Friend

Looks like i don't know English very much but cleartax clearly used the term "would be" and "may" Which means they also dont sure that xyz type of tax we need to give.

And for the fucking notice is for traders who heavenly invested like 10+ lacs in bitcoin nothing new about it

So still you r not provided proof any thing new here just false if but may be infos . If you go court with this info they will surely kick you out, Discuss on facts

Tell me a single gov doc  where gov says pay tax for your bitcoin .

If you are not concerned about having invested in Bitcoin, what are you moaning about here?

As I said, you are speaking without fully  understanding Crypto Currencies, get educated, until Crypto Currencies are regulated you won't find stuff that are 100% accurate.
The Income Tax department has already sent notices to many people to pay taxes on their bitcoin trades, and I did post a link to the same, you could read it up, but no, you're still here cooking stuff based on bit part Crypto knowledge you have acquired
Why would they send notice for paying taxes if Bitcoin was illegal?


I'm not the idiot here who is confused about Bitcoin and Bitcoin Exchange, and thinks that a pan card is needed for send/receiving Bitcoins.
A pan card is what you submitted because you only know to trade Bitcoins through one Exchange.
 
Understand that Bitcoin is P2P and is actually supposed to be stored in a personal wallet like Electrum etc where you have your own private key, an exchange is just a place where you choose to sell, buy Crypto, which you can perfectly do without an exchange.
No one owes you any explanation or proofs here..Either learn about the matter you speak, else don't speak making arguments based on incomplete information you learnt

[djbabu]

1) Taxation
https://m.timesofindia.com/business/india-business/i-t-will-tax-bitcoin-trade-has-issued-few-lakh-notices-cbdt/amp_articleshow/62755763.cms

https://timesofindia.com/business/india-business/it-notices-to-4-5-lakh-individuals-trading-in-bitcoins-across-the-country/amp_articleshow/62121048.cms

https://cleartax.in/s/bitcoins-taxes-india

2) You should have read the disclaimer about investing in Crypto Currencies, Crypto Currencies are speculative investments, no one guarantees profits.


3) I couldn't give a flying fuck what zebpay's business model is or was, because i don't use it, nor do I need it.

Dear Friend

Looks like i don't know English very much but cleartax clearly used the term "would be" and "may" Which means they also dont sure that xyz type of tax we need to give.

And for the fucking notice is for traders who heavenly invested like 10+ lacs in bitcoin nothing new about it

So still you r not provided proof any thing new here just false if but may be infos . If you go court with this info they will surely kick you out, Discuss on facts

Tell me a single gov doc  where gov says pay tax for your bitcoin .

If you are not concerned about having invested in Bitcoin, what are you moaning about here?

As I said, you are speaking without fully  understanding Crypto Currencies, get educated, until Crypto Currencies are regulated you won't find stuff that are 100% accurate.
The Income Tax department has already sent notices to many people to pay taxes on their bitcoin trades, and I did post a link to the same, you could read it up, but no, you're still here cooking stuff based on bit part Crypto knowledge you have acquired
Why would they send notice for paying taxes if Bitcoin was illegal?


I'm not the idiot here who is confused about Bitcoin and Bitcoin Exchange, and thinks that a pan card is needed for send/receiving Bitcoins.
A pan card is what you submitted because you only know to trade Bitcoins through one Exchange.
 
Understand that Bitcoin is P2P and is actually supposed to be stored in a personal wallet like Electrum etc where you have your own private key, an exchange is just a place where you choose to sell, buy Crypto, which you can perfectly do without an exchange.
No one owes you any explanation or proofs here..Either learn about the matter you speak, else don't speak making arguments based on incomplete information you learnt

Same for You Learn and speak

http://premium.thehindubusinessline.com/portfolio/your-money/cryptocurrencies-not-legal-tender-what-next/article22645271.ece

https://economictimes.indiatimes.com/markets/stocks/news/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says/articleshow/62816635.cms

[jibrankhan]

http://www.financialexpress.com/economy/why-finance-ministry-panel-said-no-to-bitcoin-and-other-virtual-currencies/790455/

Govt may declare Bitcoin illegal in India.

If jio comes with their cryptocurrency then there would not be any banned it will automatically be legal in India.

[vrd]

Regulations are on the Doar, MARK MY WORDS
enough of media manipulations all these are the media FUD means the regulations are close.
very close.

[vrd]

http://www.financialexpress.com/economy/why-finance-ministry-panel-said-no-to-bitcoin-and-other-virtual-currencies/790455/

Govt may declare Bitcoin illegal in India.

If jio comes with their cryptocurrency then there would not be any banned it will automatically be legal in India.

MEDIA MANIPULATION are done to help JIO and big players this is all that happens in INDIA
PAYTM COIN LINED UP TOO.

[vrd]

1) Taxation
https://m.timesofindia.com/business/india-business/i-t-will-tax-bitcoin-trade-has-issued-few-lakh-notices-cbdt/amp_articleshow/62755763.cms

https://timesofindia.com/business/india-business/it-notices-to-4-5-lakh-individuals-trading-in-bitcoins-across-the-country/amp_articleshow/62121048.cms

https://cleartax.in/s/bitcoins-taxes-india

2) You should have read the disclaimer about investing in Crypto Currencies, Crypto Currencies are speculative investments, no one guarantees profits.


3) I couldn't give a flying fuck what zebpay's business model is or was, because i don't use it, nor do I need it.

Dear Friend

Looks like i don't know English very much but cleartax clearly used the term "would be" and "may" Which means they also dont sure that xyz type of tax we need to give.

And for the fucking notice is for traders who heavenly invested like 10+ lacs in bitcoin nothing new about it

So still you r not provided proof any thing new here just false if but may be infos . If you go court with this info they will surely kick you out, Discuss on facts

Tell me a single gov doc  where gov says pay tax for your bitcoin .

If you are not concerned about having invested in Bitcoin, what are you moaning about here?

As I said, you are speaking without fully  understanding Crypto Currencies, get educated, until Crypto Currencies are regulated you won't find stuff that are 100% accurate.
The Income Tax department has already sent notices to many people to pay taxes on their bitcoin trades, and I did post a link to the same, you could read it up, but no, you're still here cooking stuff based on bit part Crypto knowledge you have acquired
Why would they send notice for paying taxes if Bitcoin was illegal?


I'm not the idiot here who is confused about Bitcoin and Bitcoin Exchange, and thinks that a pan card is needed for send/receiving Bitcoins.
A pan card is what you submitted because you only know to trade Bitcoins through one Exchange.
 
Understand that Bitcoin is P2P and is actually supposed to be stored in a personal wallet like Electrum etc where you have your own private key, an exchange is just a place where you choose to sell, buy Crypto, which you can perfectly do without an exchange.
No one owes you any explanation or proofs here..Either learn about the matter you speak, else don't speak making arguments based on incomplete information you learnt

Same for You Learn and speak

http://premium.thehindubusinessline.com/portfolio/your-money/cryptocurrencies-not-legal-tender-what-next/article22645271.ece

https://economictimes.indiatimes.com/markets/stocks/news/get-ready-for-most-cryptocurrencies-to-hit-zero-goldman-says/articleshow/62816635.cms

This topic will always be alive , we will see.

[bitdragon84]

Regulations are on the Doar, MARK MY WORDS
enough of media manipulations all these are the media FUD means the regulations are close.
very close.

Regulations are unlikely this year. What may come are the recommendations of the committee, which will create more FUD.

[ShivaGanesh]

Bitcoin and other cryptocurrencies will never get banned.

Getting banned by one country will be a loss for that country and government when others are adopting it and these things governments understand. That is why they are very careful in making statements.
They are worried about bitcoin because lot of black money is flowing and they cannot control it because black money is huge. This is the reason why China is having so many troubles with crypto-currencies and they know that this tech is the future so many new companies are coming u at the same time in china related to crypto currency.

So this is clear same thing is going to happen in India.
As far as bitcoin is considered , it is the grand dayy of all these coins and it has breathed life into all these coins so if bitcoin goes away others will loose value which noboy will want to ever happen.

There are lots of big institutional investors in space now and lot is at stake for even big players. So only thing that is possible is this space getting mature and stable .


So hold on to your coins with strong hands. Don't be a weak man .

This year regulations will come and market will become mature in India too. There may be some strong steps from government to make a crack down on some illegal looking investments but that should not be concern as long as you are playing fair in this game.

 

[soniraja]

There is no any legal proof till now in India. The Govt. not written post bitcoin is the ban or not. If the govt ban it then no one work freedom now this time may be about 60% person work in bitcoin and India Govt. want to Digital money so I think Govt. not ban it.

[angela24]

I hope India may not ban cryptocurrency but may limit it's transaction. User may get permission to transfer only in Indian exchanges and wallet. Otherwise oversea transaction will be track by government. Now all is treated as assets not as currency but mainstream media already spread out rumor, wrong statement about it's legalization. 
If India will create it's own cryptocurrency then it may raise fund using crowd fund. Cryptocurrency have huge market already and a huge collection for that ICO will be. I don't hope India will miss this opportunity.

[The_Don]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words

[rupesh2]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words

you nailed it ,

they are only thinking how to get more n more taxes . but still it is ok if they charge 20-30% tax on these .

but as per some news it might be 40-45% so that will be really ridiculous .

[ovcijisir]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words

Agree, as long as government get their share it is all ok with them. I doubt any country will ban Bitcoin - it just don't make any sense.⭐️

[vrd]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

I can bet my portfolio on what you are speculating is false,
1. Modi has no control over blockchain or any kind of cryptos even he has no control over the shittier ones. lol
2. Modi has no idea about bitcoin hence he has asked his think tank to get him a report which identifies how the govt can suck out taxes and can be profited through this
3. and lastly I feel demonetization was the biggest scam of the country we used to have no KYC on zebpay or any Indian exchanges before or during the demonetization, AS SOON AS THE BLACK MONEY PROPOGANDA ended these exchanges started KYC. and we have seen the dramatic price rise of BTC  after the demonetization.  I am not saying anything but all the black money was converted then and their itself.
4.india follows the USA , being a democracy they will always follow them so you can check out the historical references of crypto regulation in the US and you will find out how the fake media from the US did the same what Indian media are doing.

[djbabu]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

I can bet my portfolio on what you are speculating is false,
1. Modi has no control over blockchain or any kind of cryptos even he has no control over the shittier ones. lol
2. Modi has no idea about bitcoin hence he has asked his think tank to get him a report which identifies how the govt can suck out taxes and can be profited through this
3. and lastly I feel demonetization was the biggest scam of the country we used to have no KYC on zebpay or any Indian exchanges before or during the demonetization, AS SOON AS THE BLACK MONEY PROPOGANDA ended these exchanges started KYC. and we have seen the dramatic price rise of BTC  after the demonetization.  I am not saying anything but all the black money was converted then and their itself.
4.india follows the USA , being a democracy they will always follow them so you can check out the historical references of crypto regulation in the US and you will find out how the fake media from the US did the same what Indian media are doing.

India has not followed USA for porn then why should he follow it for bitcoin , it may follow china and korea where they banned ICO's and miners are levied with separate electricity rate means the government has control over it.

Also How can they tax people who have bitcoin mined ? no exchange in-between , they just cant track it so even if they impose 50% tax nothing they will get from small miners.

India can control it, not fully but partially like other countries done.

[bitcoindian]

As of now Indian is forming regulator guidelines for Bitcoin trading in india it is good move for bitcoin investors

[King_G_]

Yeah , even I have read articles about the government planning to ban Bitcoin because it's bringing up it's own coin called the "Laxmi".
Indian government has also stated that Bitcoin is not a trustworthy currency and people may lose their money .
On my opinion this is absolutely wrong , they can't declare that Bitcoin is risky only to launch their own.

[King_G_]

Yeah , even I have read articles about the government planning to ban Bitcoin because it's bringing up it's own coin called the "Laxmi".
Indian government has also stated that Bitcoin is not a trustworthy currency and people may lose their money .
Indian government can partially control the transactions of Bitcoin like some countries but I don't think they'll ban bitcoin.

[The_Don]

Pm modi did demonetisation to supress black money and funding of illegal activities like terrorist funding. But due to bitcoin all the attempts of modi are in vain . So it is likely to expect from him to ban crytos.
But the Q is can he practically control or ban it

lol its nothing about black money its just about tax .. they just put or increase taxes for bitcoin nothing else .. mark my words

you nailed it ,

they are only thinking how to get more n more taxes . but still it is ok if they charge 20-30% tax on these .

but as per some news it might be 40-45% so that will be really ridiculous .

actually currently govt focusing to impose and collect more and more taxes ..because indian economy is near to crash because of demonitisation etc. and if btc is taxable then govt get a huge amount of taxes .. because after 10 lakh the taxes will increases as hell .. (upto 40-50%) and most of btc investors have invested more than this amount