Quote from: taiwww on October 24, 2017, 05:32:51 AM

Trading in bitcoins is becoming more and more popular in india.
Bitcoin exchanges adding new customers daily.
Irrespective of RBI`s warning people are investing / trading in bitcoins.
But we must not forgot that our entry in such exchanges is KYC updated.
At the time of opening an account they have taken our PAN no.
For fund transfer we have linked our banks without bitcoin wallet. Central board of direct taxes have not yet issued any guidelines for income from bitcoin trades.
Tax departments of USA consider this income as capital gain.
Though bitcoin trading is not declared legal in india, still income from such trading is taxable.
Need to pay advance tax on such income.

Thanx for your information. Cheesy