Post
Topic
Board India
Re: How to pay income tax for bitcoins earned?
by
polynesia
on 08/09/2015, 14:27:41 UTC
But the thing here is that your passbook would show that you have "spent" 1 lakh as expenditure on something (buying bitcoin). But in the situation I explain, there is no INR involved for those 4 bitcoin. But tax is being paid.

The blockchain is your passbook. Smiley
Plus, if you had received your payment in cash, there would have been no trace.