What to do with Crypto after 5 July ? - page 2.

ogabonny

newbie

Activity: 102

Merit: 0

Quote from: RocketSingh on July 03, 2018, 12:57:59 PM

For now, just keep earning Crypto. There are hell lot of people in India, honestly making their living off Crypto. The voice to regularize Crypto is getting stronger everyday. Whatever comes... we'll face it together.

p.s. If u r 18+, try to have a PAN card as soon as possible and file NIL ITR, even if your Crypto gain does not fall under taxable bracket.

excellent,the ban may be in place,people will still be involved informally,away from the prying eyes of government.

hubballi

sr. member

Activity: 882

Merit: 297

If you have kept your savings in btc then I think you can sellin p2p exchange as you are going to sell directly to the end user and transactions will be between you and him so their is no record of btcso no tax problem

RAMSHIVDEEPAK

member

Activity: 224

Merit: 18

First,you have to keep every record of your earnings. Like bounty sheets , airdrop, other sheets.it will help you in future.
It also depends ,how much value you have.

killx

newbie

Activity: 3

Merit: 0

Quote from: RAMSHIVDEEPAK on July 04, 2018, 11:13:10 AM

First,you have to keep every record of your earnings. Like bounty sheets , airdrop, other sheets.it will help you in future.
It also depends ,how much value you have.

But everywhere I'm using my pseudonym.

I have more than 2 lakhs (exact amount I'll cannot disclose)

RAMSHIVDEEPAK

member

Activity: 224

Merit: 18

First,you have to keep every record of your earnings. Like bounty sheets , airdrop, other sheets.it will help you in future.
It also depends ,how much value you have.

Deepa18dec

newbie

Activity: 63

Merit: 0

I'd say stay optimistic and even if decision is not in favor of crypto enthusiasts, keep investing and earning. There will always be other ways to convert your crypto to fiat.

suchi2591

newbie

Activity: 126

Merit: 0

Exchanges are preparing a p2p solution for that. Still we have 2 wait and watch.

RocketSingh

legendary

Activity: 1662

Merit: 1050

For now, just keep earning Crypto. There are hell lot of people in India, honestly making their living off Crypto. The voice to regularize Crypto is getting stronger everyday. Whatever comes... we'll face it together.

p.s. If u r 18+, try to have a PAN card as soon as possible and file NIL ITR, even if your Crypto gain does not fall under taxable bracket.

killx

newbie

Activity: 3

Merit: 0

Please Read It Fully Before Commenting Wink

As you all know, 5 July onwards bank transactions associated with crypto will stop. I'm not panic selling crypto.

According to some news, crypto regulation draft will be presented in the parliament. So I think crypto will be regulated in India.

If crypto is regulated, what do you think I should do (given the constraints)

1. Assets over 2 Lakhs in crypto
2. Don't have any record of transactions (and can't make either, as I used services like Shapeshift)
3. Earned legally through faucets, bounties, giveaways, airdrops, etc.
4. No INR transaction till now related to crypto
5. Currently a student
6. Don't hold a PAN card

I don't want to evade the taxes. If assets are taxable , I'll pay the taxes.

The only thing I am worried about being wrongly classified as holding black money.

Topic: What to do with Crypto after 5 July ? - page 2. (Read 340 times)