Under what purpose code (FETERS) should crypto currency purchase be reported? i believe it should be under capital investments as intangible assets. but i'm buying it for reselling it in india. issue with import is as per that duty for any software is 10% which as per USD basis would mean net cost of 75*1.1 = 82.5. but then question arises how are other exchanges doing it? i've specifically gone into business model and it os very clear amount of withdrawl or transfer of crypto currency is far more than deposit. so they have to be replenishing quantity every few days. any help in the regard even paid is appreciated.
thanks
CAclubindia
