Post
Topic
Board Bitcoin Discussion
Re: Bitcoin holders being taxed in India
by
Xising
on 21/01/2019, 11:29:38 UTC
Now in India, profit from bitcoin trading will be heavily taxed. Notice for ₹ 0.1 M tax to be paid has been issued to bitcoin holders in India.

Source:
http://www.timesnownews.com/business-economy/economy/article/india-income-tax-department-cryptocurrency-bitcoin-investors-worry-over-1-lakh-it-notices/196379

Well, if this is really the case, I have replies to many similar threads and topics that this is inevitable. I say that because taxation is one of the mechanisms of the government to gain revenue, and if  they see one market prospering or bringing in big bucks, then they would say make something happen to be part of that party and gain from it. Therefore, since the cryptocurrency market has been presenting itself in the recent years as a viable source of income, especially since it can rake in big gains, then taxing it would be the most intelligible means for the government gain from it without actually investing in it themselves and sharing the risks that it carries. That way, they can profit from it without having to experience its necessary dangers.