Tax expert Sharad Kohli says that Bitcoin is an electronic currency. Bitcoin trading is also there. The question on its legitimacy remains intact, which has led some countries to accept it. The important thing is will bitcoin buyer also have to be paid on Bitcoin.
After the upturn in Bitcoin, the trend of general investors of India has also started moving towards this. However, this currency does not fall within the purview of any law. Regardless of this, it is used for non-bank transactions, fund transfers, direct transactions on the Internet, online shopping and illegal transactions. Tax expert Sharad Kohli says that Bitcoin is an electronic currency. Bitcoin trading is also there. The question on its legitimacy remains intact, which has led some countries to accept it. The important thing is will bitcoin buyer also have to be paid on Bitcoin. If the investors have profits, then the tax will also be paid on that profit.
Learn bitcoin and tax mathematics
According to Tax Expert Sharad Kohli, the biggest cryptocurrency so far is the bitocin. In a very short time, its price has increased by 25 percent. As far as tax on BITCOIN is concerned, section 2 (14) has information about the capital asset which does not mention cryptocurrency under Capital Gain. This means that the income from the purchase and sale of cryptocurrency will be treated as income from the business and the profit from the trading is expected to be taxed according to the slab rate that in 2018 the cryptocurrency is probably in the capital asset Come and make clear rules on this.
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