Bitcoin seller in mumbai

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Best Indian Crypto Exchanges To Buy Bitcoins in India [Updated]

Subscribe on YouTube. I believe in the concept of Bitcoins. Still I think, Bitcoins will only work for a short period of time, a few years, before a concept will be found, that works better for the masses. I personally wait for a correction of the Bitcoins price. And I will keep a close look on alternative concepts over the next years. I have been following your blog for long time. Your email address will not be published.

Notify me of follow-up comments by email. Notify me of new posts by email. Skip to content Save. Company Mobile app available for Sign Up Save. Wazirx Save. Join Unocoin. Join Purse. Authored By Harsh Agrawal.

History of Bitcoin in India

A Blogger, Author and a speaker! Harsh Agrawal is recognized as a leader in digital marketing and FinTech space. Also, an award-winning blogger. Related Posts. Free Template Aug 10, Show Hide 4 comments.

Top 7 Crypto Exchanges in India to Buy Bitcoins, Altcoins

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Anger against tech giants led me to cryptocurrency: Nischal Shetty of WazirX

Thus you are acquiring bitcoins as moveable asset and not as a currency that can be used as a legal tender for the monetary transactions. However, as there is spurt in the trading of Bitcoins, RBI has been cautioning the investors about the risks involved. You may also like to go through the latest advisory of the RBI at the following link:. As regards the use of foreign exchange to buy cryptocurrency, I suggest you to read my previous reply and follow the links provided therein. As regards the income tax, as the arbitrage transactions are likely to be regular operations, the income on such arbitrage transactions will be treated as business income and assessed accordingly.

The profit arising from trading of bitcoin will be your speculative business income and will be taxed as per your normal slab rate. Even if you earn 20 lacs and pay tax on the same, there wont be any trouble from income tax department. You may receive notice but you can answer to the notice saying you have paid taxes on the same. Till date there is no legal framework in India in relation to bitcoins. So, you can't say whether it legal or illegal. Best that can be done is to pay capital gain taxes on bitcoins investment as per the Income tax act or as business income of the trading volume is big.

Currently there are no laws dealing with cryptocurrency. So long as you pay tax, from Income-tax perspective, you can be safe. It will be considered as speculation business and tax will be paid accordingly.

Till the time you are paying due taxes on our profits made in India or abroad there is nothing to worry about the Income Tax Department. Get tax answers from top-rated CAs. Schedule a minute call with a top-rated chartered accountant. Tax advice online for India. Bitcoin Arbitrage Hi, I want to know if crypto arbitrage is illegal in India or not i. Even if he is paying all taxes on earnings to Income Tax as per provisions.

List of Popular Websites For Indians to Purchase Bitcoins:

Thanks Asked 3 years ago in Income Tax. Hi As of now, there is nothing in the law, which makes Bitcoin arbitrage illegal in India. Abhishek Dugar. Let me reiterate my earlier views on this issue in response to another similar query. B Vijaya Kumar. Thanks Vijay for the clarification.


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I want to buy one crypto from indian exchange and sell same in foreign exchange.