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Bit coin - in india : legal issues for trading & tax issues

Others 284 views 2 replies

gk

service

156 Points Posted on 11 December 2017

Respected Peers,

Good morning to all of you!

A lot of news spreading on the subject matter without any authentification on the same through social media. Please be started a news thread on this matter to guide and advise the forum memberes like me to know the real facts regarding the legal issues including the investments, trading and accountability with RBI/Tax norms.

Thanking you in advance

with best regards

Kris

Replies (2)

CA Jitender Yadav

Sr. Finance Executive

261 Points Posted on 11 December 2017

There is no any specific amendment in Income Tax act, regarding taxability of bitcoins till date, However it may be taxed 20% or 30% considering it as capital asset.

CA Jitender Yadav

Sr. Finance Executive

261 Points Posted on 11 December 2017

On Wednesday RBI gave its third warning that it has not authorised any entity to deal in bitcoins and if any trader or investor dealing with it will be doing it on their own risk.