There is no tax on Bitcoin in India. It is a false and baseless news. Unless bitcoin gets regulated in India by the Government its becomes taunt for bitcoin holders.I am a bitcoin holders and I have not received any notice from the government nor have any of my friends.
Any income is taxable. Last year, during that major bull run high profile traders/investors were given notice, not everyone.
Same in my place. Any income is taxable. It is just a matter how they define crypto. For instance, if I were to invest in a property and sold it after holding for at least 5 years, my income will not be taxable. But still, one has to declare their income. At this moment, there is no regulations on crypto yet. If crypto investment is being defined as property investment, then I won't be taxed after holding it for 5 years. But still, this is quite difficult to prove because there is no proper documentation on when and where I purchase the crypto.
I come from Malaysia is regulation is about to start. The government is putting a halt on all on-going ICOs, which is good, to prevent scams. I hope to see positive results.