Re: I-T department conducting surveys at Bitcoin exchanges
In today's newspaper I read that Income Tax department is going to send notices to 4-5 lakh high level traders who have traded Bitcoins at popular exchanges.
http://www.businesstoday.in/current/economy-politics/bitcoin-income-tax-notices-4-lakh-hnis-tax-evasion-cryptocurrency-digital-money-tax-fraud/story/266264.html
This comes after IT officials conducted surveys at 9 popular Bitcoin exchanges in India last week.
Let us know if anyone here receives the notice
http://www.businesstoday.in/current/economy-politics/bitcoin-income-tax-notices-4-lakh-hnis-tax-evasion-cryptocurrency-digital-money-tax-fraud/story/266264.html
This comes after IT officials conducted surveys at 9 popular Bitcoin exchanges in India last week.
Let us know if anyone here receives the notice
Now this scary news and seems like all Indian exchanges having this panic right now and price decreasing rapidly compared to International exchange price getting dropped in Indian exchanges .
I don't think the price decline is because of this news. Prices on Indian exchanges have always wandered around Bitstamp price, with USD to INR ratio being 70.
Currently Coinsecure INR 13,00,000 = Bitstamp USD 18,400 which is same as usual.
Dont think Indian price always wandered around Bitstamp cause International Bitcoin price never reached 20k $ + [21k $ @ 68 INR per USD] but Indian price were 2 - 3 days ego .