Bitcoin holders being taxed in India - page 2.

DeathAngel

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Quote from: aditya6997 on February 07, 2018, 02:27:30 AM

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.

bitfocus

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

TheClownSong

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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

hahay

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Quote from: Halmater on January 18, 2019, 02:39:33 PM

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.

libert19

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Quote from: riyarana1123 on January 17, 2019, 01:35:19 AM

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.

Bijikopi

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Quote from: Malam90 on February 07, 2018, 02:37:22 AM

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.

Halmater

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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.

shoreno

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Quote from: riyarana1123 on January 17, 2019, 01:35:19 AM

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 .

BuyBuyBitcoin

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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.

riyarana1123

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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.

incomefromcoins

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

Denton

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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.

Gary Levanevskii

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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.

GreatOrchid

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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.

OrangeII

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Quote from: TheWalkingCoin on December 19, 2018, 10:19:36 PM

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.

TheWalkingCoin

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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.

Tahir460pk

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As i read here few time before that the indian government has be stopped and banned crypto currency by this act alot of indian investors are disturb and now listening that government being tax from bitcoin holder its good step in such way more ways open from bitcoin.

Maysummer

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I also want to know the connection of news, otherwise this is another false FUD, the Indian government has also recently has a lot of FUD.

EddieCristain

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at this time nayone hold bitcoin is dead soon.

bvg96634

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The fact that you don’t have to declare crypto in the airport seemed to awoke them and they started making taxes…wonderful. But no surprise

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