Quote from: teosanru on November 11, 2019, 11:18:30 AM

Quote from: Daniel91 on November 10, 2019, 01:46:12 PM

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In my country India, there is no special provision regarding taxation on bitcoin. It's taxed based on the source of how you have earned bitcoins. If you are earning it as a remittance on account of your business then you are eligible to claim expenses done in this regards and file it under Profits from gains of Business and considering that you are and Individual you will be taxed at Individual slab rates which are:

0-250000	NIL
250000-500000	5%
500000-1000000	20%
1000000 above	30%

Note: The rates you stated above are for the financial year 2018-19. As from 2019-20 onwards, second tax slab i.e. 250000-500000 is exempted too. Hence you don't have to pay taxes if your income is less than 500K INR.
Also if anyone wondering in which denomination he wrote the value then it is INR. 1 USD = 71.5 INR so you can make your maths accordingly.

Quote from: bitcoinposts on November 11, 2019, 01:57:01 PM

In india we cant do any bank transactions in cryptocurrencies it is completely banned so we cant pay tax to government

Either you don't have slightest of the idea how taxation in India works or you have been guided wrongly.
First thing, taxation supersedes criminal law. This means no matter your income is earned from ethical source or unethical, income tax department view all of it as same and tax accordingly.
Secondly, doing bank transactions involving cryptocurrencies are not banned in India. The only thing that is actually banned in India is doing exchange business. So no one can provide intermediary services for buying/selling in BTC/INR pair. But you can always use P2P networks and no one will question you.
Now coming to taxation of Bitcoin. You have to pay taxes. If you are not paying taxes, you are jeopardizing your situation and may land in problems soon.

If you looking for how to pay taxes on Bitcoin incomes in India, here are two threads which explain it in details:
https://bitcointalk.org/index.php?topic=5145589.0
https://bitcointalk.org/index.php?topic=5142949.0