Topic: [ANN] New Bitcoin Exchange in India- No Transaction Fee (Read 7193 times)
I don't think amazon US accepts bitcoin as payment mode. I recently ordered a book from amazon US and there was no option of payment method via bitcoin.
I believe Amazon US accepts bitcoins. Why doesn't Amazon India?
if i m not wrong amazon.com is not accepting bitcoin directlyyou buy gift card from a third party seller using bitcoin and redeem them on amazon.com and shop
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
I'd like to be proven wrong, but it seems that the Bitcoin tide is slowly diminishing in India.
The merchant movement in India does not have a strong partner as yet.
Betting that its gonna change through 2015.
Some new merchants accepting bitcoin could provide a flip to the movement.
My bets would be on flipkart.
I believe Amazon US accepts bitcoins. Why doesn't Amazon India?
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
I'd like to be proven wrong, but it seems that the Bitcoin tide is slowly diminishing in India.
The merchant movement in India does not have a strong partner as yet.
Betting that its gonna change through 2015.
Some new merchants accepting bitcoin could provide a flip to the movement.
My bets would be on flipkart.
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
I'd like to be proven wrong, but it seems that the Bitcoin tide is slowly diminishing in India.
The merchant movement in India does not have a strong partner as yet.
Betting that its gonna change through 2015.
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
I'd like to be proven wrong, but it seems that the Bitcoin tide is slowly diminishing in India.
At least I see some buyers and sellers in this forum.
Otherwise, people might begin to think they are stuck with their bitcoins.
U'll find buyers & sellers on localbitcoins as well. But, what I'm saying is, the volume is far lower since the great Gox failure
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
I'd like to be proven wrong, but it seems that the Bitcoin tide is slowly diminishing in India.
At least I see some buyers and sellers in this forum.
Otherwise, people might begin to think they are stuck with their bitcoins.
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
I'd like to be proven wrong, but it seems that the Bitcoin tide is slowly diminishing in India.
There seem to have been no transactions after October 6th.
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Liquidity seems to be non-existent. Is this the case across exchanges in India?
Is it Millibits traded on 6th of every month.As per millibits market trade history;6th of July traded most of the volume and again 6th of October traded.Remaining volume is almost negligible.Is it any logic behind this 6th day?
Nice observation. I checked back on some charts and this seems to be some kind of pattern across exchanges. All around the 5th - 6th.
http://bitcoincharts.com/charts/bitstampUSD#rg30ztgCzm1g10zm2g25zv
hahahahaha, this is funny.
Well my friend I think the logic can be explained only by the registered bitcoin traders. As the trading is between User to User.
Is it Millibits traded on 6th of every month.As per millibits market trade history;6th of July traded most of the volume and again 6th of October traded.Remaining volume is almost negligible.Is it any logic behind this 6th day?
millibits receive and transfer funds only through bank accounts
Are you paying by checks or online funds transfer to banks.
Cannot see anything wrong with your participation or acknowledgement of anything in any way. This is a personal/ professional decision to involve in the forums.
In fact, I believe that it is a good practice to have an advocate post on forums, etc. It is a smart way to protect the interests of the posted text for future reference.
I cannot say anything about the questions asked by the others though, as this is a 'part free speech"
forum. Their queries do look genuine and it's your absolute discretion to answer what you consider to be public domain information.
I do not have any answering the question Benson. I had the problem in the manner in which it was asked. Maybe these kind of things happen on the forum. Anywayz, since you think that it is a genuine question I would answer that milllibits are only our clients and we do not owe any share. I have already discussed that we work in a manner wherein we put our best effort for the client as the client grows a professional grows. In fact, I believe that it is a good practice to have an advocate post on forums, etc. It is a smart way to protect the interests of the posted text for future reference.
I cannot say anything about the questions asked by the others though, as this is a 'part free speech"
forum. Their queries do look genuine and it's your absolute discretion to answer what you consider to be public domain information.Regards
--
Kanishk Agarwal
Advocate
CriTaxCorp
Criminal-Taxation-Corporate
www.critaxcorp.com
+919971666252
+919999966252
I am here to promote my client. U might have become active at this forum now only otherwise you would have known that I have answered many legal queries of many other people of this forum and try to do my bit. Millibits are our client but we never intend to promote them in any manner. I got introduced to this forum because they made me aware of this forum, so thats why this thread.
I do not see why would you be interested in knowing about my ties with millibits. I run my practice on the analogy that if the client grown, the professional grows with him and I operate in this manner only. If I have been here on this forum promoting my client only then the moderator Benson samuel or any other senior members are free to point the same to me and I shall sieze commenting at this forum.
As far as I see you must be one of the founders or partners of an exchange running in India and that is why trying to throw mud and use such modes of comments to slander your competition. If not, then I do not see any reason of such slander and you anywayz do it for fun coz of your shortcomings.
Lastly, we do not discuss client terms with anyone, you might not understand it as it relates to professional ethics and I cant do anything about it either.
Regards
I do not see why would you be interested in knowing about my ties with millibits. I run my practice on the analogy that if the client grown, the professional grows with him and I operate in this manner only. If I have been here on this forum promoting my client only then the moderator Benson samuel or any other senior members are free to point the same to me and I shall sieze commenting at this forum.
As far as I see you must be one of the founders or partners of an exchange running in India and that is why trying to throw mud and use such modes of comments to slander your competition. If not, then I do not see any reason of such slander and you anywayz do it for fun coz of your shortcomings.
Lastly, we do not discuss client terms with anyone, you might not understand it as it relates to professional ethics and I cant do anything about it either.
Regards
Cannot see anything wrong with your participation or acknowledgement of anything in any way. This is a personal/ professional decision to involve in the forums.
In fact, I believe that it is a good practice to have an advocate post on forums, etc. It is a smart way to protect the interests of the posted text for future reference.
I cannot say anything about the questions asked by the others though, as this is a 'part free speech"
forum. Their queries do look genuine and it's your absolute discretion to answer what you consider to be public domain information.
I am here to promote my client. U might have become active at this forum now only otherwise you would have known that I have answered many legal queries of many other people of this forum and try to do my bit. Millibits are our client but we never intend to promote them in any manner. I got introduced to this forum because they made me aware of this forum, so thats why this thread.
I do not see why would you be interested in knowing about my ties with millibits. I run my practice on the analogy that if the client grown, the professional grows with him and I operate in this manner only. If I have been here on this forum promoting my client only then the moderator Benson samuel or any other senior members are free to point the same to me and I shall sieze commenting at this forum.
As far as I see you must be one of the founders or partners of an exchange running in India and that is why trying to throw mud and use such modes of comments to slander your competition. If not, then I do not see any reason of such slander and you anywayz do it for fun coz of your shortcomings.
Lastly, we do not discuss client terms with anyone, you might not understand it as it relates to professional ethics and I cant do anything about it either.
Regards
I do not see why would you be interested in knowing about my ties with millibits. I run my practice on the analogy that if the client grown, the professional grows with him and I operate in this manner only. If I have been here on this forum promoting my client only then the moderator Benson samuel or any other senior members are free to point the same to me and I shall sieze commenting at this forum.
As far as I see you must be one of the founders or partners of an exchange running in India and that is why trying to throw mud and use such modes of comments to slander your competition. If not, then I do not see any reason of such slander and you anywayz do it for fun coz of your shortcomings.
Lastly, we do not discuss client terms with anyone, you might not understand it as it relates to professional ethics and I cant do anything about it either.
Regards
@bitcoinisfuture - Reply was for both you and luckyindia. I referred you as you asked a question and yes i am an advocate who provide legal services to the companies dealing in bitcoin businesses.
@rotten egg-: Kindly refer to my reply stated above. Elaborating on any query or discussion related to our client might lead to breach of confidentiality, which would be unethical. I replied as this thread was posted by me and certain wrong understanding was grounding up.
@rotten egg-: Kindly refer to my reply stated above. Elaborating on any query or discussion related to our client might lead to breach of confidentiality, which would be unethical. I replied as this thread was posted by me and certain wrong understanding was grounding up.
Your reply does not say anything about my question. I think a real advocate does not come to a forum to promote his client and brag about a certain company being his client. If I remember correctly, Nishith Desai Associates published a statement about UnoCoin. I cant imagine Nishith Desai is coming to this forum and telling everyone that UnoCoin is his client. So, your deep interest in promoting millibits, in spite of being well aware about their incompetency, shows they are more than just a client to U. It actually looks funny. That is why I'm asking a simple Q - Do u own any part of millibits in any way ?
p.s. Of course u can come up with your long standing shield - Elaborating on any query or discussion related to our client might lead to breach of confidentiality, which would be unethical. But, this is how u discredit your client's credential more & more, because in Bitcoin world people dont like deceiving entities. So, a clear disclosure of your ownership might get some facts straight !!!
@bitcoinisfuture - Reply was for both you and luckyindia. I referred you as you asked a question and yes i am an advocate who provide legal services to the companies dealing in bitcoin businesses.
@rotten egg-: Kindly refer to my reply stated above. Elaborating on any query or discussion related to our client might lead to breach of confidentiality, which would be unethical. I replied as this thread was posted by me and certain wrong understanding was grounding up.
@rotten egg-: Kindly refer to my reply stated above. Elaborating on any query or discussion related to our client might lead to breach of confidentiality, which would be unethical. I replied as this thread was posted by me and certain wrong understanding was grounding up.
@bitcoinsfuture- it is owned and operated by my clients not by me. I am their Advocate who looks into all kinds of legal issue, drafting agreements etc. which comes @ from time to time. We only provide legal services to the entrepreneurs dealing into bitcoin to make their business structure safe and legal.
Are u sure that u dont own any part of millibits in any way ?
@bitcoinsfuture- it is owned and operated by my clients not by me. I am their Advocate who looks into all kinds of legal issue, drafting agreements etc. which comes @ from time to time. We only provide legal services to the entrepreneurs dealing into bitcoin to make their business structure safe and legal.
Thanks Kanishk. By the way it was @ luckyindia who said "Congratulations to Kanishk for launching the New BTC Exchange in India" . So I was wondering if you started as you are an advocate, and provide the services to your client.
@bitcoinsfuture- it is owned and operated by my clients not by me. I am their Advocate who looks into all kinds of legal issue, drafting agreements etc. which comes @ from time to time. We only provide legal services to the entrepreneurs dealing into bitcoin to make their business structure safe and legal.
) :)Congratulations to Kanishk for launching the New BTC Exchange in India. I just have a few suggestions to make:
1) Tie up with stock market agents,brokers to enable online trading of stocks with BTC.
2) Tie up with private banks to promote their business.
3) Tie up with different E-com sites to promote their products and services thru BTC.
:)Congratulations to Kanishk for launching the New BTC Exchange in India. I just have a few suggestions to make:1) Tie up with stock market agents,brokers to enable online trading of stocks with BTC.
2) Tie up with private banks to promote their business.
3) Tie up with different E-com sites to promote their products and services thru BTC.
Is Millibits owned by adv.Kanishk?
) :)Congratulations to Kanishk for launching the New BTC Exchange in India. I just have a few suggestions to make:
1) Tie up with stock market agents,brokers to enable online trading of stocks with BTC.
2) Tie up with private banks to promote their business.
3) Tie up with different E-com sites to promote their products and services thru BTC.
Not as easy as you may sound. We have learnt it the hard way. :)Congratulations to Kanishk for launching the New BTC Exchange in India. I just have a few suggestions to make:1) Tie up with stock market agents,brokers to enable online trading of stocks with BTC.
2) Tie up with private banks to promote their business.
3) Tie up with different E-com sites to promote their products and services thru BTC.
) :)Congratulations to Kanishk for launching the New BTC Exchange in India. I just have a few suggestions to make:
1) Tie up with stock market agents,brokers to enable online trading of stocks with BTC.
2) Tie up with private banks to promote their business.
3) Tie up with different E-com sites to promote their products and services thru BTC.
:)Congratulations to Kanishk for launching the New BTC Exchange in India. I just have a few suggestions to make:1) Tie up with stock market agents,brokers to enable online trading of stocks with BTC.
2) Tie up with private banks to promote their business.
3) Tie up with different E-com sites to promote their products and services thru BTC.
Can we have Demo Login Token from millibits?
Any how its not much visited site due to various reasons.
Firstly in this instant world due to which bitcoin is know which could be transferred around the world in minutes millibits take 12 hrs for any withdrawal or deposit made to them (Twice in a day). Query resolution also takes long time to respond.
It seems more as a part time project rather then a full time website.
They do not even have the trade history of buy/sell as hardly any trades take place on the site. Also, various fees that is mentioned above are good reasons that one can easily avoid this site to trade with.
Firstly in this instant world due to which bitcoin is know which could be transferred around the world in minutes millibits take 12 hrs for any withdrawal or deposit made to them (Twice in a day). Query resolution also takes long time to respond.
It seems more as a part time project rather then a full time website.
They do not even have the trade history of buy/sell as hardly any trades take place on the site. Also, various fees that is mentioned above are good reasons that one can easily avoid this site to trade with.
Millbits is for Mega Traders not for Small/Milli Traders.
Say, customer bought 0.01 btc, he will receive only 0.005.
Customer sold 0.01 btc, he will receive only Rs.200 instead of Rs.300.
Banker may charge only Rs 2 for IMPS/NEFT transaction. But your guys charging Rs 100
Block chain or any other wallet services charging 0.0001 BTC, but your guys charging 0.005 BTC.
If you are providing zero transaction fee ;customer looses a lot.
Say, customer bought 0.01 btc, he will receive only 0.005.
Customer sold 0.01 btc, he will receive only Rs.200 instead of Rs.300.
Banker may charge only Rs 2 for IMPS/NEFT transaction. But your guys charging Rs 100
Block chain or any other wallet services charging 0.0001 BTC, but your guys charging 0.005 BTC.
If you are providing zero transaction fee ;customer looses a lot.
Depositing money and withdrawing money can sometimes take time, but they have told me that they are working on it, so that it can be faster.
This is true, unfortunately. We service deposits and withdrawals only twice a day, in bulk. I should have made that clear on our front page to avoid disappointing anyone. I've noted it there now. Quote
bitcoin secret keys are never written to a web host's disk or network. they are stored privately, redundantly, and encrypted.
hmac signed web session cookies
browsers instructed to never leak cookies over unencrypted connections
http strict-transport-security guards against sslstrip attack
web clickjacking, referrer logging, session fixation attacks prevented
sql injection impossible
high performance single threaded trade execution, also ensuring data integrity
first and second factors of authentication are rate limited, to keep your account safe from attackers
no floating point arithmetic, so no rounding where we shave off fractions
passwords hashed with scrypt (N=16384,r=8,p=1)
all web and api input is sanitized before use. sanitization occurs with code evaluator disabled
ssl heartbleed safe. ssllabs https rating A+
quality source of random numbers used, with seed saved across reboots
no password reset feature that can be used by attackers
totp qr code image filename is 160 secure random bits, as long as the totp secret
email from us is pgp signed so you aren't easily phished
your documents are stored encrypted by grey-celled passwords
That's just to give you a sense of the attention we pay to security.
hmac signed web session cookies
browsers instructed to never leak cookies over unencrypted connections
http strict-transport-security guards against sslstrip attack
web clickjacking, referrer logging, session fixation attacks prevented
sql injection impossible
high performance single threaded trade execution, also ensuring data integrity
first and second factors of authentication are rate limited, to keep your account safe from attackers
no floating point arithmetic, so no rounding where we shave off fractions
passwords hashed with scrypt (N=16384,r=8,p=1)
all web and api input is sanitized before use. sanitization occurs with code evaluator disabled
ssl heartbleed safe. ssllabs https rating A+
quality source of random numbers used, with seed saved across reboots
no password reset feature that can be used by attackers
totp qr code image filename is 160 secure random bits, as long as the totp secret
email from us is pgp signed so you aren't easily phished
your documents are stored encrypted by grey-celled passwords
That's just to give you a sense of the attention we pay to security.
Wow !! A good set of security locks !!
In the millibits.in mentioned that "ssl heartbleed safe. ssllabs https rating A+" but in ssl labs it shown "F"
https://www.ssllabs.com/ssltest/analyze.html?d=https%3A%2F%2Fmillibits.in
Sorry about that. We've now:https://www.ssllabs.com/ssltest/analyze.html?d=https%3A%2F%2Fmillibits.in
- updated our SSL to get back up to A+
- subscribed to openssl-announce and debian-security-announce to hear of new vulnerabilities sooner
That was fast :-)
In the millibits.in mentioned that "ssl heartbleed safe. ssllabs https rating A+" but in ssl labs it shown "F"
https://www.ssllabs.com/ssltest/analyze.html?d=https%3A%2F%2Fmillibits.in
Sorry about that. We've now:https://www.ssllabs.com/ssltest/analyze.html?d=https%3A%2F%2Fmillibits.in
- updated our SSL to get back up to A+
- subscribed to openssl-announce and debian-security-announce to hear of new vulnerabilities sooner
In the millibits.in mentioned that "ssl heartbleed safe. ssllabs https rating A+" but in ssl labs it shown "F"
https://www.ssllabs.com/ssltest/analyze.html?d=https%3A%2F%2Fmillibits.in
https://www.ssllabs.com/ssltest/analyze.html?d=https%3A%2F%2Fmillibits.in
Glad to see some response from real time clients of the exchange....
i have used it a couple of times. use it for some arbitrage opportunities that come up some time. have deposited bitcoins and withdrawn money as well. they seem to have a huge order book available most of the times. there trading is very fast.
also very responsive on email.
also very responsive on email.
I was going through the site and it says 'This is the country's only sub-second, user-to-user, bitcoin exchange with no trade limits'. Which is the first site?
Also, anybody traded from this site?
Also, anybody traded from this site?
This is not what they mean
By sub-second they mean instant exchange from bitcoin to inr and vice versa.
And yes I have traded good amounts in this exchange and it is trustable
Millibits is a good website, 0 transaction fees for now, I have traded good amounts on it.
Depositing money and withdrawing money can sometimes take time, but they have told me that they are working on it, so that it can be faster.
A good exchange though even if not aesthetically appealing!
Depositing money and withdrawing money can sometimes take time, but they have told me that they are working on it, so that it can be faster.
A good exchange though even if not aesthetically appealing!
I was going through the site and it says 'This is the country's only sub-second, user-to-user, bitcoin exchange with no trade limits'. Which is the first site?
Also, anybody traded from this site?
Also, anybody traded from this site?
Haven't traded yet but reviewing the code it looks robust, but i'm no expert, Would like more of you to check it out and review the codes published in the site. But i do like the fact that they would allow API's, and all their communications are pgp signed and verified so very little chance of phishing attacks.
I was going through the site and it says 'This is the country's only sub-second, user-to-user, bitcoin exchange with no trade limits'. Which is the first site?
Also, anybody traded from this site?
Also, anybody traded from this site?
See as per current tax regime it shall not be taxable. As per my understanding, when you convert the mined bitcoins into INR and show it in your returns it would become taxable. Aso if you bought bitcoin in INR and you sold it after holding it over some period and made some profit then the difference in the buy and sell price would be taxable like in the case of properties. However, the valuation adoption and other things are still not confirmed. We may look into the issue deeply and provide you an opinion on the same, if you intend to.
You may contact me on my details mentioned herein below.
Kanishk Agarwal
Advocate
CriTaxCorp
Criminal-Taxation-Corporate
www.critaxcorp.com
+91-9999966252
Welcome to BitcoinTalk. Nice to see an advocate is being involved into Bitcoin.
Would like to know, by law, is bitcoin mining taxable in India, as long as the mined coins are not being converted to FIAT, i.e. INR ?
As per my understanding mining of bitcoins will not be taxable as per current tax regime. However, the department may treat it as a wealth source and charge wealth tax on the same. Secondly, if you convert the same into INR it might be treated as income from other sources and you may have to pay tax on it but it will also show your bonafide in declaring it with tax authorities and also use the legitimate earned money into other things.
This is where I'm confused. Taxing while converting to FIAT is fine, but on what tax structure or guideline Bitcoin can be taxed as a wealth as long as it is not converted to FIAT ?
Suppose, someone is earning 0.1 BTC per month whose FIAT value typically varies between INR 3000 to INR 6000 as per recent market scenario. Now what wealth tax can be applied to this person when he accumulates 1.2 BTC at the end of the financial year and does not convert any part of it to FIAT ?
You may contact me on my details mentioned herein below.
Kanishk Agarwal
Advocate
CriTaxCorp
Criminal-Taxation-Corporate
www.critaxcorp.com
+91-9999966252
This is to inform all the bitcoin enthusiast that a new bitcoin exchange have become operational in India. The url of the exchange is
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
Welcome to BitcoinTalk. Nice to see an advocate is being involved into Bitcoin.
Would like to know, by law, is bitcoin mining taxable in India, as long as the mined coins are not being converted to FIAT, i.e. INR ?
As per my understanding mining of bitcoins will not be taxable as per current tax regime. However, the department may treat it as a wealth source and charge wealth tax on the same. Secondly, if you convert the same into INR it might be treated as income from other sources and you may have to pay tax on it but it will also show your bonafide in declaring it with tax authorities and also use the legitimate earned money into other things.
This is where I'm confused. Taxing while converting to FIAT is fine, but on what tax structure or guideline Bitcoin can be taxed as a wealth as long as it is not converted to FIAT ?
Suppose, someone is earning 0.1 BTC per month whose FIAT value typically varies between INR 3000 to INR 6000 as per recent market scenario. Now what wealth tax can be applied to this person when he accumulates 1.2 BTC at the end of the financial year and does not convert any part of it to FIAT ?
Good to see this, might use this if volumes pick up.
Good luck!
Good luck!
This is too cool. But you definitely need to work on the website theme
This is to inform all the bitcoin enthusiast that a new bitcoin exchange have become operational in India. The url of the exchange is
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
Welcome to BitcoinTalk. Nice to see an advocate is being involved into Bitcoin.
Would like to know, by law, is bitcoin mining taxable in India, as long as the mined coins are not being converted to FIAT, i.e. INR ?
As per my understanding mining of bitcoins will not be taxable as per current tax regime. However, the department may treat it as a wealth source and charge wealth tax on the same. Secondly, if you convert the same into INR it might be treated as income from other sources and you may have to pay tax on it but it will also show your bonafide in declaring it with tax authorities and also use the legitimate earned money into other things.
This is where I'm confused. Taxing while converting to FIAT is fine, but on what tax structure or guideline Bitcoin can be taxed as a wealth as long as it is not converted to FIAT ?
Suppose, someone is earning 0.1 BTC per month whose FIAT value typically varies between INR 3000 to INR 6000 as per recent market scenario. Now what wealth tax can be applied to this person when he accumulates 1.2 BTC at the end of the financial year and does not convert any part of it to FIAT ?
Hi
I don't mean to intrude, however, wealth tax shall not be applicable on the same. As long as it is held in BTC, no form of taxation under any law shall be applicable.
This is to inform all the bitcoin enthusiast that a new bitcoin exchange have become operational in India. The url of the exchange is
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
Welcome to BitcoinTalk. Nice to see an advocate is being involved into Bitcoin.
Would like to know, by law, is bitcoin mining taxable in India, as long as the mined coins are not being converted to FIAT, i.e. INR ?
As per my understanding mining of bitcoins will not be taxable as per current tax regime. However, the department may treat it as a wealth source and charge wealth tax on the same. Secondly, if you convert the same into INR it might be treated as income from other sources and you may have to pay tax on it but it will also show your bonafide in declaring it with tax authorities and also use the legitimate earned money into other things.
This is where I'm confused. Taxing while converting to FIAT is fine, but on what tax structure or guideline Bitcoin can be taxed as a wealth as long as it is not converted to FIAT ?
Suppose, someone is earning 0.1 BTC per month whose FIAT value typically varies between INR 3000 to INR 6000 as per recent market scenario. Now what wealth tax can be applied to this person when he accumulates 1.2 BTC at the end of the financial year and does not convert any part of it to FIAT ?
I would suggest a small bootstrap theme, specifically a CDN-hosted bootstraps. As of right now, the site looks extremely shady.
This is to inform all the bitcoin enthusiast that a new bitcoin exchange have become operational in India. The url of the exchange is
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
Welcome to BitcoinTalk. Nice to see an advocate is being involved into Bitcoin.
Would like to know, by law, is bitcoin mining taxable in India, as long as the mined coins are not being converted to FIAT, i.e. INR ?
As per my understanding mining of bitcoins will not be taxable as per current tax regime. However, the department may treat it as a wealth source and charge wealth tax on the same. Secondly, if you convert the same into INR it might be treated as income from other sources and you may have to pay tax on it but it will also show your bonafide in declaring it with tax authorities and also use the legitimate earned money into other things.
Good luck with the exchange kanishk.
Interesting to see that you have trade APIs. Good luck.
This is to inform all the bitcoin enthusiast that a new bitcoin exchange have become operational in India. The url of the exchange is
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
Welcome to BitcoinTalk. Nice to see an advocate is being involved into Bitcoin.
Would like to know, by law, is bitcoin mining taxable in India, as long as the mined coins are not being converted to FIAT, i.e. INR ?
Goodluck Kanishk
This is to inform all the bitcoin enthusiast that a new bitcoin exchange have become operational in India. The url of the exchange is
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
https://millibits.in
There are no transaction fee, as of now, and even thereafter it will be a fraction of what other exchanges in India are charging. Hope you look forward to it and find this news useful!!!
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