can we evade out taxes by converting cash to btc?
No. Money when earned is applicable to tax no matter what you have done with it.
Also, BTC is not a tool to do illegal things.
Tax Evading is a criminal activity.
Topic: People pay your Taxes - page 13. (Read 82772 times)
No. Money when earned is applicable to tax no matter what you have done with it.
Also, BTC is not a tool to do illegal things.
Tax Evading is a criminal activity.
can we evade out taxes by converting cash to btc?
HI
I am a practicing Taxation Consultant with my own family firm of Advocates & Chartered Accountants. I am also a miner and can help you deal with any and all taxation related issues.
Please PM me for any help.
Thanks & Regards,
Devesh Gupta
Good to have you among the bitcoin community I am a practicing Taxation Consultant with my own family firm of Advocates & Chartered Accountants. I am also a miner and can help you deal with any and all taxation related issues.
Please PM me for any help.
Thanks & Regards,
Devesh Gupta
HI
I am a practicing Taxation Consultant with my own family firm of Advocates & Chartered Accountants. I am also a miner and can help you deal with any and all taxation related issues.
Please PM me for any help.
Thanks & Regards,
Devesh Gupta
I am a practicing Taxation Consultant with my own family firm of Advocates & Chartered Accountants. I am also a miner and can help you deal with any and all taxation related issues.
Please PM me for any help.
Thanks & Regards,
Devesh Gupta
Tax Tax Tax...
You are mining. You are earning.
You are using subsidized power.
Pay your Tax.
Income tax is not very high when compared to other countries. There are ways in which the tax can be reduced greatly reduced.
Consult a good tax agent. There are options for saving taxes using bonds and investment products.
Remember that the Government runs efficient only when it's people pay taxes properly. Paying taxes is our duty. Saying the government is corrupt is just another reason to evade taxing. India is far better than many other countries in corruption, economic growth and development. Love your country.
Thanks.
You are mining. You are earning.
You are using subsidized power.
Pay your Tax.
Income tax is not very high when compared to other countries. There are ways in which the tax can be reduced greatly reduced.
Consult a good tax agent. There are options for saving taxes using bonds and investment products.
Remember that the Government runs efficient only when it's people pay taxes properly. Paying taxes is our duty. Saying the government is corrupt is just another reason to evade taxing. India is far better than many other countries in corruption, economic growth and development. Love your country.
Thanks.
Why is this topic on on sticky status?
Does this bitcoin Tax thing make a serious issue?
Does this bitcoin Tax thing make a serious issue?
No it doesnt, people are just happy to feed more to corrupt governments
Why is this topic on on sticky status?
Does this bitcoin Tax thing make a serious issue?
Does this bitcoin Tax thing make a serious issue?
The beauty of crypto was NO TAXES on transactions and money exchange. If anyone wants to pay taxes relating to crypto than the original satoshi idea is defeated. I advise everyone to hold high alert deals in bitcoins so these thugs wont be coming after you.
Freedom from banking and taxation slavery
Freedom from banking and taxation slavery
I heard the same team has seized mtgox's one method of payment system.
not sure what is up with them, but nothing is gonna effect bitcoin, well. LR was one side wannabe bitcoin anyways.
I am pretty sure they can not do anything on crypto currencies.
not sure what is up with them, but nothing is gonna effect bitcoin, well. LR was one side wannabe bitcoin anyways.
I am pretty sure they can not do anything on crypto currencies.
Welcome to the forums mate. But you may want to spend some time going through existing posts.
These topics have been discussed 2 weeks ago.
The Seizures have been well documented under the India thread and this discussion should be made in those threads.
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Do check with a lawyer and he will agree with what I said :p
Me to lawyer : Sir/Ma'am what should I do about bitcoin not being mentioned ?
Smug lawyer (holding some btc himself) :
I need to pay taxes only when i sell them. Not to just hold the obtained bitcoins.
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So asset declaration would include the coins your holding ? (in which case how would you value it ?)Or the ones that you have sold and have cash for it ? (that doesnt sound like an asset to me ... sorry im just too confused with this whole tax thing)
Bitcoin does not fall under the definition of an asset,
Lol there we go again .. back to square 1 with legal interpretations. Is there any thread about this ?
its not an interpretation. Assets, securities and derivatives all have legal definitions.
In order for Bitcoin to fall under one of them, it first needs to be defined.
Do check with a lawyer and he will agree with what I said :p
I need to pay taxes only when i sell them. Not to just hold the obtained bitcoins.
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So asset declaration would include the coins your holding ? (in which case how would you value it ?)Or the ones that you have sold and have cash for it ? (that doesnt sound like an asset to me ... sorry im just too confused with this whole tax thing)
Bitcoin does not fall under the definition of an asset,
Lol there we go again .. back to square 1 with legal interpretations. Is there any thread about this ?
I need to pay taxes only when i sell them. Not to just hold the obtained bitcoins.
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So asset declaration would include the coins your holding ? (in which case how would you value it ?)Or the ones that you have sold and have cash for it ? (that doesnt sound like an asset to me ... sorry im just too confused with this whole tax thing)
Bitcoin does not fall under the definition of an asset,
I need to pay taxes only when i sell them. Not to just hold the obtained bitcoins.
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So asset declaration would include the coins your holding ? (in which case how would you value it ?)Or the ones that you have sold and have cash for it ? (that doesnt sound like an asset to me ... sorry im just too confused with this whole tax thing)
I need to pay taxes only when i sell them. Not to just hold the obtained bitcoins.
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
So it will just be asset declaration this time.
If they ask me to pay taxes because i have mined some bitcoins, my argument would be to ask them to accept my tax in bitcoins or to establish authorized exchanges where we can convert bitcoins to inr. Any of these two options would be good for us
Taxation is a form for govt to collect money from people, help people with that money and also to level the rich-poor ground. But only first part of it succeeds fully.
I am planning to declare the bitcoins i have as an asset in the filing i will do in aug for the fin year ending march 31st 2014. please share your views about this if you are willing to.
I am planning to declare the bitcoins i have as an asset in the filing i will do in aug for the fin year ending march 31st 2014. please share your views about this if you are willing to.
Thats' great move! I'd suggest, you should file soonner for following reasons:
1. Earlier you pay taxes, lower you'll have to pay considering its price is sure to rise in future.
2. Taxation on Bitcoin is inevitable now. If you early enough to give them headache of taxing Bitcoin, they'll be forced to work out issue soon. And that will be good for people involved.
3. One more issue to catalyze government to take clear stand on virtual currency.
But not every one is a part time worker or a student. and many do have bitcoin transactions over 2 lakh. They, need to keep records and pay tax properly.
Ah well fuck indian gov i'm not going to pay any tax.
The power to tax is the power to destroy. Income tax and property tax are evil. Just my 2 cents.
You must have skipped elementary education where they teach how democracy works. Selfish soul! Whatever you've earned was from society and paying them back, willing or unwilling is moral obligation. Because, most people are unwilling to digest the thought above, they're forced to tax.
Taxation is a form for govt to collect money from people, help people with that money and also to level the rich-poor ground. But only first part of it succeeds fully.
I am planning to declare the bitcoins i have as an asset in the filing i will do in aug for the fin year ending march 31st 2014. please share your views about this if you are willing to.
I am planning to declare the bitcoins i have as an asset in the filing i will do in aug for the fin year ending march 31st 2014. please share your views about this if you are willing to.
But not every one is a part time worker or a student. and many do have bitcoin transactions over 2 lakh. They, need to keep records and pay tax properly.
Ah well fuck indian gov i'm not going to pay any tax.
The power to tax is the power to destroy. Income tax and property tax are evil. Just my 2 cents.
yeah, my folks just told me that despite the fact that we worked our balls off and bought a house and 'OWN' it, we still need to pay prop tax every year
?? WTF?? lol.. Crazy stuff.PS: They didnt say balls
But not every one is a part time worker or a student. and many do have bitcoin transactions over 2 lakh. They, need to keep records and pay tax properly.
Ah well fuck indian gov i'm not going to pay any tax.
The power to tax is the power to destroy. Income tax and property tax are evil. Just my 2 cents.
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