How exactly Income Tax Dept is going to act against Bitcoins ?

168 views 1 replies
1.Can someone throw light upon the exact legal remedy available to FinMin and IT Dept against Bitcoin and other crypto-currencies ?

2.If law doesn't recognize them as legal tender, how it is different from Game-Cureency (which is, as per my best knowledge, not yet taxable !) ?

3. If someone bought Bitcoin from his valid, shown-in-return savings, and doesn't realize the profit in Rupees or any legal tender - like keeping it invested in Cryptos themselves- how and under which section of which law FinMin and IT Dept are going to take actions against such portfolio ??
Replies (1)

I Think Income on sale Bitcoin is taxable under the capital gain.

You can follow below link:

https://timesofindia.indiatimes.com/business/india-business/bitcoin-sale-profit-is-taxable-capital-gains-for-investor/articleshow/58691027.cms

https://www.livemint.com/Money/4cciHKjOYRIRgoMmKi8ypI/You-have-to-pay-taxes-on-gains-from-bitcoins.H T M L

https://www.thehindubusinessline.com/money-and-banking/bitcoin-investors-may-have-to-pay-capital-gains-tax/article10004806.ece

 

 

BRISK ADVISORY SERVICES LLP

www.switch2gst.com

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
25 June 2026
Accounts & Taxation Executive

Dindukurthy & Associates

Hyderabad

MBA

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details