Quote from: kumarcp on December 26, 2017, 07:07:29 PM

Yes bitcoins can be taxable

Technically saying the answer is "No", bitcoin works on a algorithm which is excluded from the tax system. We generally need to pay fees for processing our transactions to support the working of the system, leaving that there are no extra expenses like taxes on bitcoin which is a perfect example of a decentralized system. But in the recent days government are trying to tax bitcoin, and is misconception that bitcoin is also taxable, but one should realize that they are only imposing taxes when bitcoin will be converted into local currency otherwise they cannot track the transactions of particular user.