people face paying taxes on their Bitcoin Sales in India

[aintnopassincraze]

An obstacle for bitcoin development in India

An understatement but I gotta ask you all are surprised that a corrupt government pulled a corrupt move? I mean I didn't even bat an eye when I saw this because look at who is running the show. Same goes for other shady governments, it does suck but you in no way should be surprised by these rulings.

[marsmyname]

Not only India, there are many countries asking for taxes when exchanging their Bitcoin to the cash. So we have to be very careful when dealing the governments because they need taxes, in order people should not become rich in any country.

Lol, this is really confusing, I can’t even understand what you guys are talking about here. How is it possible for the government to charge tax from bitcoin users? How are they able to know when you’re  selling your bitcoin, are you selling your bitcoin to the government or to an exchanger or an individual? I have sold many times but never paid tax for it,  even for using my bitcoin. But I’m not from India. And I sell to an exchanger and have never paid a single tax for it.

[Noelbetty12]

Well it's not that troublesome if we pay taxes, the problem is if you are at the losing side and you would still pay the taxes what returns will you get? So I think there should be some arrangements to be done to make it fair for the person doing such investments. It's always a risk investing in bitcoins or its alternative coins and too easy to ask for taxes. What assistance will the government provide should the investor loses?