cryptocurrency trading taxes india quora

long run, this will discourage outsiders from investing at all, because they want to avoid losing money. We cannot turn a blind eye. #5 The lack of price consistency across exchanges order protection. This type of fund raising would not have been viable in the public markets, which have much higher requirements for entry.

cryptocurrency trading taxes india quora

In countries like Switzerland and Singapore. According to anonymous sources familiar with the matter, the Income Tax department has realized the importance of a more sensible approach to taxation. NEW delhi (Reuters) - India has sent tax notices to tens of thousands of people dealing in cryptocurrency after a nationwide survey showed more than.5 billion worth of transactions have been conducted over a 17-month period, the income tax department said. The punishment for insider trading activity is forex mutual fund investment jail time, reputational damage, repatriation of profits, and severe fines, which is enough to scare most insiders. Regardless of the asset, insiders have access to critical information sooner than the outsiders, which allows them to buy before rallies, or sell before selloffs.

The difference between the cost of buying and it's sales price will taxed as business income. Cryptocurrency is not a legal tender in India however, people may. As per Indian laws, unless specifically covered in any separate category like salary income, equity, fixed deposits etc. Capital gains earned through any means are taxable as per the applicable income band. So it doesnt matter if owning bitcoin is legal or not, if you have cashed your bitcoins and earned.