Quote from: vrd on February 13, 2018, 03:11:46 AM

Quote from: ShivaGanesh on February 10, 2018, 10:56:49 AM

Government has not yet revealed how they are planning to tax profits from cryptocurrency.
But one thing is for sure if they tax it too much , crypto money will not come back in country specially some huge black money holders, they can buy properties across the globe using cryptocurrency.

However if government make it tax free like Singapore and Japan , India will see lot of money coming back in the country even all the black money that government has been chasing for such a long time.
A win win situation for everyone.

Nothing such will happen , all the process which takes place in our country is under the vigilance of govt. the laws which would be introduced and regulated would be mended in such a manner where the power is centralized, that's the basis for Indian democracy/

If govt of india intend to take taxes on profits by crypto then they should first analyse their own rules of it not just copy-paste of USA tax rules of crypto. USA is so different and developed country. In india if govt starts collecting taxes then they should first elaborate the structure and server it all over india...I bet more than 50% are unawae about how to pay taxes.