Post
Topic
Board India
Re: Solutions on How to file Tax returns on Bitcoin Income
by
Virtual miner
on 23/05/2019, 08:43:20 UTC
When I contacted an auditor regarding paying tax, she told me to consider the earnings from crypto as normal earnings( income from other sources) and pay tax according to that and last year I did the same. I didnt have any issue because of it.
There is no issue in filing it in other sources as of now. Even filing it under salary won't attract you any type of problem. But what I am trying to give is the best opinion so that you do not have to face any legal scrutiny in future. When you are rendering services such as signatures they become part of profession if you are not having any other business income. So filing it there would even allow you to take deduction of expenses and pay lesser tax. You can even take deduction of expenses under other source but that can lead to some scrutiny.

Remember there is no law as to how to file it so all of these are best judgement opinions. Alternative methods can be opted Obviously.