Topic: People pay your Taxes - page 3. (Read 82827 times)
I am actually paying taxes on the amount I am withdrawing from Indian exchange to my bank account , but after looking at new tax form , it's looks like government want us to pay taxes on what we are holding in cryptocurrency ,that is wrong , if my holdings gets zero by any incident , that's the uncertainty , so I support taxes on crytpo , but only on the amount we are withdrawing from exchange to bank , not on our cryptocurrency holdings
Had a doubt on the redemption of bitcoins as non-currency for people who are well-versed in crypto taxation rules.
If I sell my bitcoins to get these gift coupons, do I have to pay tax on it ( Under the tax head "income from other sources " )
eg: As redeemable re-chargable coupons / gift coupons.
As long as it is not realised as real currency , do I still have to pay tax on it ?
If I sell my bitcoins to get these gift coupons, do I have to pay tax on it ( Under the tax head "income from other sources " )
eg: As redeemable re-chargable coupons / gift coupons.
As long as it is not realised as real currency , do I still have to pay tax on it ?
RBI banned no need to pay your taxes now 
Enjoy the decision
http://epaper.bhaskar.com/detail/56625/4614031911/mpcg/map/tabs-1/2018-04-06%2000:00:00/172/12/image/
Modi done it again to clean black money
Enjoy the decision
http://epaper.bhaskar.com/detail/56625/4614031911/mpcg/map/tabs-1/2018-04-06%2000:00:00/172/12/image/
Modi done it again to clean black money
Government should not to apply taxes because of it's a vulnerable market here one guy gets more profit and other get in lose so how can both will pay taxes.
Yes, but people don't pay taxes normally than you think they will pay for BTC purchase?
People in India are so much corrupt that's why they have banned Cryptocurrency in India and I guess because of this there will be not much technological development in Cryptocurrency in India.
People in India are so much corrupt that's why they have banned Cryptocurrency in India and I guess because of this there will be not much technological development in Cryptocurrency in India.
If I invested 2 lacks and withdrawan 1.5 lakh a... Am I supposed to pay tax?
if you still believe in ache din then govt may consider to pay you 50k compensation in dreams
Invested 1 lacs and earned 9 lacs in 7 months.
How much tax i need to pay ?
Anyone here who can help me in the same.!!!
How much tax i need to pay ?
Anyone here who can help me in the same.!!!
My anual income is 50k ,
So I m not pay tax
So I m not pay tax
If I invested 2 lacks and withdrawan 1.5 lakh a... Am I supposed to pay tax?
I'm into crypto for more than an year - so still a noob considering the age of this post alone!
Looking at all the complexities, even CAs aka CPAs are struggling to calculate by cost basis and rejecting a lot of clients due to lack of time.
We at BearTax have been solving this problem of calculating gains in an intelligent and optimal way instead of other tools that are in the market.
Few of them even raised millions of dollars in funding.
We are pretty new and they are free for less than 20 transactions. Currently integrated with Coinbase, GDAX, Poloniex, Gemini and soon working on integrating with Zebpay, Koinex. However, you will be able to upload transactions in a common csv format.
Hope it becomes easy for users to calculate gains and report taxes appropriately!
https://bear.tax
Looking at all the complexities, even CAs aka CPAs are struggling to calculate by cost basis and rejecting a lot of clients due to lack of time.
We at BearTax have been solving this problem of calculating gains in an intelligent and optimal way instead of other tools that are in the market.
Few of them even raised millions of dollars in funding.
We are pretty new and they are free for less than 20 transactions. Currently integrated with Coinbase, GDAX, Poloniex, Gemini and soon working on integrating with Zebpay, Koinex. However, you will be able to upload transactions in a common csv format.
Hope it becomes easy for users to calculate gains and report taxes appropriately!
https://bear.tax
Hello,
I'm very much into crypto but not that aware of how taxation works actually. Will file my first ITR this year.
Can someone explain me, that if I invested in crypto with my own risk, and got rekt, then no one is liable for my risk. But if I earned profit from the investment, I am liable to the gov to pay them taxes!
is it funny?
I'm very much into crypto but not that aware of how taxation works actually. Will file my first ITR this year.
Can someone explain me, that if I invested in crypto with my own risk, and got rekt, then no one is liable for my risk. But if I earned profit from the investment, I am liable to the gov to pay them taxes!
is it funny?
Best i will recommend u to either consult an online CA or CA near you , they will suggest you better solution.
Hello,
I'm very much into crypto but not that aware of how taxation works actually. Will file my first ITR this year.
Can someone explain me, that if I invested in crypto with my own risk, and got rekt, then no one is liable for my risk. But if I earned profit from the investment, I am liable to the gov to pay them taxes!
is it funny?
I'm very much into crypto but not that aware of how taxation works actually. Will file my first ITR this year.
Can someone explain me, that if I invested in crypto with my own risk, and got rekt, then no one is liable for my risk. But if I earned profit from the investment, I am liable to the gov to pay them taxes!
is it funny?
That's how it works. Same with share market. Bitter truth.
As for your question, many people seem to think crypto income falls under capital gains. Work your way from there.
if u are crypto trader in india it is safe to pay tax orelse income tax in india will start questioning us for source of income and penalty before to avoid all such is it safe to pay taxes
If you are saving to pay taxes. When you are buy and sell bitcoin using your bank account because you are paid income tax if you can big investment bitcoin and earn profit.
Is there any online bank like that of SwissBank where you can convert your bitcoins to real cash and save it!?
Nope. ;(
Peoples were using LR as their online Swiss bank account till now.
LR has been seized last month by Feds & US govt,
Really?
yes. visit www.libertyreserve.com... it's been seized... US Govt has posted a legal information too.... just check...
This is crazy.
Wonder if you went through the forum before making that post.
That 25 Questionaire wont going to help either to GOI; Moreover it will also encourage people to Jump the Gun and Devise method of redeption that will not be law abiding and People will definately fall for it .
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.
s i agree more than the tax slab they need to pay 20% of the income earned from bitcoin to IT.
https://cleartax.in/s/bitcoins-taxes-india
Almost 90% of the total TRADERS in India , data you submitted to ZEBPAY and KOINEX and the exchanges have been sent to IT and ED. 2 LAKH 131 (a) Notice have been rolled out asking for ITR return on cryptos, along with that all the possible details which we can have in our crypto daily life has to be submitted to them.
Those who are regularly filing ITR haven't received the notice though and don't need to worry.
Those who are regularly filing ITR haven't received the notice though and don't need to worry.
Government has not yet revealed how they are planning to tax profits from cryptocurrency.
But one thing is for sure if they tax it too much , crypto money will not come back in country specially some huge black money holders, they can buy properties across the globe using cryptocurrency.
However if government make it tax free like Singapore and Japan , India will see lot of money coming back in the country even all the black money that government has been chasing for such a long time.
A win win situation for everyone.
Nothing such will happen , all the process which takes place in our country is under the vigilance of govt. the laws which would be introduced and regulated would be mended in such a manner where the power is centralized, that's the basis for Indian democracy/But one thing is for sure if they tax it too much , crypto money will not come back in country specially some huge black money holders, they can buy properties across the globe using cryptocurrency.
However if government make it tax free like Singapore and Japan , India will see lot of money coming back in the country even all the black money that government has been chasing for such a long time.
A win win situation for everyone.
the only concern with indian govt is people avoid paying taxes nt paying tax is big crime now in present govt once we declare ur income and be in tax radar it is safe to do investment in crypto currencies
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