hi,as far as i seen so many using bitcoins and even selling and buysing
so now was it legal?
and also when you make big amount into banks i.e when sold big amount,will bank question where money comes?
and also explain how much transaction you make per month
and i want to know more on this and some are even selling bitcoins,my question do they have any problems they faced for making such transactions please answer
There is nothing illegal about bitcoin in India. People have been asking whether it is legal but I always phrase my answer that it is not illegal in India. Now the second part of your query is what happens when huge transactions are being made by buying/selling of bitcoins and you deposit or withdraw your money from bank accounts. The answer is that in order to be safe from any foreseen prosecution, you should buy/sell bitcoins only through bank accounts and use your legitimate money. If you buy in cash and sell for getting legitimate money there would be issues and vice versa also. The safest way is buying/selling through bank transfers the modes can be trough exchanges, escrow account or even between peer to peer (Provided you are not being scammed). The authorities would try to look into bulk buying/selling of bitcoins and would definitely try n trail the mode of buying and selling bitcoins, so just be aware of that.
Rest if you have any other query you can PM me as well would be glad to answer your queries.
Regards
--
Kanishk Agarwal
Advocate
CriTaxCorp
Criminal-Taxation-Corporate
www.critaxcorp.com+919971666252
+919999966252