Quote from: Wapinter on September 01, 2015, 08:51:22 PM

Quote from: polynesia on September 01, 2015, 05:18:52 PM

Quote from: Wapinter on September 01, 2015, 12:10:28 PM

Quote from: polynesia on July 30, 2015, 01:17:13 AM

Quote from: RocketSingh on July 29, 2015, 12:36:25 PM

Quote from: gowron on July 29, 2015, 11:32:59 AM

Then tell list down how you obtained those bitcoin, along with acquisition costs.

How do I list acquisition costs for bitcoins, which are earned from signature campaign, giveaways, ad space selling, social media promotion ?

Think of it as a 2 step process. You first earn money through signature campaigns (which has an INR value) and pay tax on that.
When you sell the bitcoins later, you have capital gains or loss. The INR value of the bitcoins when you earned them becomes your acquisition cost.

The value of btc keeps changing in terms of INR or USD everyday,how to keep track of all the bitcoin [there value in INR] one gets everyday from various sources

That is the tough part.

I think in absence of any regulations about btc,the best approach is not to mention bitcoin in your documents at all.For tax purpose,show it as income from selling digital goods or services

At the time of ITR filing, there is no option to mention bitcoin either. Better report it as a digital asset selling, but keep a track to yourself, so that, in case of any enquiry, you may show the actual bitcoin tx for sales.