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What is the tax regulation for Bitcoin in India? If I make profit out of Bitcoin, what percentage will I have to pay to the government?
Government Taxes on Bitcoin in India
Answers
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Most of the Indian bitcoin businesses go by the analysis from Nisith Desai and Associates:https://www.zebpay.com/wp-content/uploads/2016/04/Bitcoins.pdf
Bitcoin is unregulated in India(not illegal or legal) and only points of dealing with the sovereign currency(INR) are taxable. Rules vary depending on if you mine, earn, buy, invest, sell or spend your coins and also with the parties in the deal.
Go through this link, it explains some of the legal stuffs: https://bensonsamuel.com/bitcoin-3/reserve-bank-of-india-regulations-on-bitcoin-in-india/
– jgm – 2016-06-17T11:13:43.670