Topic: I-T Department asking for Following details (Source Unknown) (Read 98 times)
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the point is they are asking for investment of people of bitcoin and other altcoins from period 1-1-2016 to 31-12-2016
Everyone know bitcoin price rose from last year
yes bitcoin profit is taxable in india , read cleartax story - https://cleartax.in/s/bitcoins-taxes-india
For eg, if his taxable income exceeds Rs 10 lakh, he would be liable to a tax @ 30% as against the flat rate of tax of 20% he would be liable to pay, if charged to tax under long-term capital gains. The benefit of indexation as would be available if taxed under capital gains , would also not be available if taxed under Income from other sources.
the point is they are asking for investment of people of bitcoin and other altcoins from period 1-1-2016 to 31-12-2016
Everyone know bitcoin price rose from last year
yes bitcoin profit is taxable in india , read cleartax story - https://cleartax.in/s/bitcoins-taxes-india
For eg, if his taxable income exceeds Rs 10 lakh, he would be liable to a tax @ 30% as against the flat rate of tax of 20% he would be liable to pay, if charged to tax under long-term capital gains. The benefit of indexation as would be available if taxed under capital gains , would also not be available if taxed under Income from other sources.
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