According to The Hindu report,Indian government may start taxing its citizens on bitcoin purchases
According to an officer:-"Banning will give a clear message that all related activities are illegal and will disincentivize those interested in taking speculative risks, but it was pointed out it will impede tax collection on gains made in such activities and that regulating the currency instead would signal a boost to blockchain technology, encourage the development of a supervision ecosystem (that tracks legal activities and may also assist in tracking illegal activities) and promote a formal tax base."
From now on bitcoin purchases may get costly in India
Fascinating post, keep us update @iamhaque
I appreciate the quality content brotha, I followed and gave your post an upvote :)
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Thank you very much
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Forget the tax. Come August 1 be ready. Doomsday!!!
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No word on how they are going to track this.
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