As the price of bitcoin (BTC) and altcoins continue to “moon,” India’s tax agency, the Central Board of Direct Taxes (CBDT) is reportedly making active plans to clip the wings of crypto tax evaders in the country.
Per sources close to the latest development, the nation’s Income Tax Department has obtained the transaction history of crypto traders that executed trades via banking channels prior to the apex bank’s ban on fiat-to-crypto trading in 2018.
While crypto taxation is yet to become a thing in various jurisdictions across the globe, as authorities continue to look for ways of making crypto investors file the correct taxes on their bitcoin trading gains, Naimish Sanghvi, a top Indian crypto influencer has taken to Twitter to reveal that bitcoiners in the state have been paying taxes on their crypto profits contrary to reports.
Source:
https://btcmanager.com/india-taxman-bitcoin-price/Will it happen to other countries as well?
