Quote from: Thirdspace on April 24, 2019, 01:44:00 AM

Quote from: Wayan_Pedjeng on April 22, 2019, 04:42:07 PM

First of all, check whether Bitcoin is classified as a currency in your country or not. In 99% of the cases, it will be classified as an "asset" by the government. In such cases, the bitcoins that you receive from signature campaigns are not taxable (as long as these coins remain in your wallet).

Quote from: gentlemand on April 01, 2019, 12:51:15 PM

It doesn't matter how much you cash out, you're being paid in something with value and that's the place you're taxed.

I second gentlemand's reply to the other post, and this also applies to Wayan_Pedjeng's post
taxation happens at the time you receive something (in any forms) regarded as income or addition to your wealth
if payment is in the form of bitcoin as an asset, the value of bitcoin at the time of transaction will be used for taxation

I still don't agree with this logic. Has the government recognized "Bitcoin" as an asset? Has it issued any notice stating that gains from the crypto-trading can be treated as capital gains? I am asking this because in my country only profits from stock trading, sale of bullion, sale of real estate.etc is specifically considered for capital gains. The income tax department has never issued any circular regarding Bitcoin.

And one more thing. How can they link my Bitcoin wallet or my Bitcointalk forum account back to me? What if I tell them that my father is using those accounts and I don't have any connection to them?