Treatment of bit coin transaction
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 July 2018
ONE OF MY CLIENT HAS SOME BIT COIN TRANSACTIOB DURING PREV YEAR 17-18, HOW WE MAY TAKE THESE TRANSACTION IN ITR AND UNDER WHICH HEAD
CA R SEETHARAMAN
(Expert)
30 July 2018
Treat it as capital gains.
Bitcoins held as investment being transferred in exchange for real currency are taxed under long term / short term depending on the holding period
Long term(>3 years) - Flat 20% tax
Short term(< 3 years) - Taxed according to your individual tax slab rate ((Applicable on your income))
Bitcoins held as investment being transferred in exchange for real currency are taxed under long term / short term depending on the holding period
Long term(>3 years) - Flat 20% tax
Short term(< 3 years) - Taxed according to your individual tax slab rate ((Applicable on your income))
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