Bitcoin holders being taxed in India

[TheWalkingCoin]

Bad situation for our friend have joined bitcoin at India, their government have banned bitcoin at transaction and investing, many exchange was banned and make all of holder do not have many option to withdraw their bitcoin become cash money.

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[OrangeII]

Bad situation for our friend have joined bitcoin at India, their government have banned bitcoin at transaction and investing, many exchange was banned and make all of holder do not have many option to withdraw their bitcoin become cash money.

well, I guess it's quite difficult for crypto users there. I think, with the issuance of regulations, it will make India accept bitcoin. well, but I hope India will remove the regulation and make other regulations that support this development.

[GreatOrchid]

Is it something to be worried about?
I don't think that applying taxation to bitcoin holders might really help grow the economy of the country. Most of the citizens from India can easily bypass filling taxes and also it wont actually matter them a lot.

If we take it positively, it might be a good start as applying taxation to bitcoin holders indicate that today or tomorrow the government can start accepting bitcoins as a mean of payment. Lets be positive and think everything goes well.

[Gary Levanevskii]

Now, many regulators want to receive taxes on cryptocurrency. Perhaps taxes are what interested regulators in cryptocurrency. In the current situation, taxes can have a greater effect on hodlers.

[Denton]

This will affect only those who are going to withdraw large amounts of money. Those who want to avoid it will be able to do it. In any case, I do not think this news is bad,because it may mean that the country accepts bitcoin.

[incomefromcoins]

india is very uncertain in implementing any laws regarding cryptocurrencies soon court may give judgement for cryptocurrencies so Indian may follow as court guidelines

[riyarana1123]

There is no tax on Bitcoin in India. It is a false and baseless news. Unless bitcoin gets regulated in India by the Government its becomes taunt for bitcoin holders.I am a bitcoin holders and I have not received any notice from the government nor have any of my friends.

[BuyBuyBitcoin]

India is one of the FUD capitals of bitcoin.

Just get it at one of the anonymous exchanges that sell bitcoin in India and watch the rupee decline in value with everyone else.


There isn't going to be taxes on bitcoin profits in India if the rupee declines another 10 years like it has the last 30 years.

[shoreno]

There is no tax on Bitcoin in India. It is a false and baseless news. Unless bitcoin gets regulated in India by the Government its becomes taunt for bitcoin holders.I am a bitcoin holders and I have not received any notice from the government nor have any of my friends.

oh really ? well thanks for witnessing here  . anyway you wont never get taxed when you only hold your btc because tax is only applicable if you are actively selling and buying  .  maybe they will get charge by a tax when they cash in or cash out their cryptos from a local banks or offline exchanges because those kind business are running under the government  .

[Halmater]

High fee rates and plus tax start to make people discomforted and nobody say that this is going to change in near future. These also cause a decrease on demand for bitcoin.

[Bijikopi]

I still haven't seen this news. If yes, please give the link through which people will read the news and justify its reality.

If this news is true, then there is great progress for the country of India.
 because by applying taxes, the government recognizes the existence of bitcoin in the country. the government agrees and can provide business approval in the field of digital currency. We see news that this year will come and whether this can be realized, hopefully this can increase the value of Bitcoin.

[libert19]

There is no tax on Bitcoin in India. It is a false and baseless news. Unless bitcoin gets regulated in India by the Government its becomes taunt for bitcoin holders.I am a bitcoin holders and I have not received any notice from the government nor have any of my friends.

Any income is taxable. Last year, during that major bull run high profile traders/investors were given notice, not everyone.

[hahay]

High fee rates and plus tax start to make people discomforted and nobody say that this is going to change in near future. These also cause a decrease on demand for bitcoin.

But by legalizing bitcoin there by applying taxes, I am even more confident that demand will increase because investors may view it more safely and their investments seem to be protected by the local government. Maybe that is the effect that will be caused, but every expediency must have pros and cons, we will just see the growth.

[TheClownSong]

Taxes in bitcoin investment will good for holder because it will opening government regulation. Its closer to regulated market and i think with regulation, people can invest in bitcoin more easily. More people invest in bitcoin or cryptomarket, i think it will creating stronger market

[bitfocus]

they don't want to legalize it but they want a cut as tax - hypocrites!

[DeathAngel]

Now in India, profit from bitcoin trading will be heavily taxed. Notice for ₹ 0.1 M tax to be paid has been issued to bitcoin holders in India.

Source:
http://www.timesnownews.com/business-economy/economy/article/india-income-tax-department-cryptocurrency-bitcoin-investors-worry-over-1-lakh-it-notices/196379

Profit from bitcoin trading will be taxed - Only if you declare your earnings. Provided it’s under a certain amount you won’t even have to tell them about it. Any trading profits under $15,000 I guess could slip under the radar.

[Destroyeroff98]

Now in India, profit from bitcoin trading will be heavily taxed. Notice for ₹ 0.1 M tax to be paid has been issued to bitcoin holders in India.

Source:
http://www.timesnownews.com/business-economy/economy/article/india-income-tax-department-cryptocurrency-bitcoin-investors-worry-over-1-lakh-it-notices/196379

In the near future, every government should do a cryptocurrency tax. Because it is profit.

[KryptoKai]

India is complete mayhem. It is regulated, and then banned. Then it is taxed, then they block bank accounts. Too bad for the Indian people who wish to invest, just go with privacy coins like Monero and then trade via a DEX

[Johnzky]

Now in India, profit from bitcoin trading will be heavily taxed. Notice for ₹ 0.1 M tax to be paid has been issued to bitcoin holders in India.

So stupid. bitcoin is a money. what kind of tax can they take from trading a money. Same story in my country. government says that they are going to add some new regulations and bring taxes regarding cryptocurrency trading.

So if bitcoin is money then why people use this for trading and profit from this?lol

Taxation is required in any form of profiteering even if this is from what you so called ‘money’ thats a simple logic,if you dont wanna get taxed then stop trading bitcoin or even holding this for a certain reason,governments has their own looks on crypto and most of them considered this as assets and not currency

[ronaldono]

Are you sure? Don't make fake news, I think it's not funny.
Please don't be stupid, and don't fool others with fake news.