But my question is while filing income tax for the service i paid 10 lakhs the currency rate is picked (4/22/2020 time 12 pm.) or the currency rate will be picked at the timing and date when i file the tax.....?
Thanks!
AFAIK, you have to pay taxes for the price at the time of your conversion into your bank account, so no matter when you received crypto or file taxes will be taken into account.
that is correct, you only pay tax when you got INR in your account, payment through BTC or any other mean that is not the legal currency is not applicable, so when you convert it to INR pay taxes on it.
I understand that you want to file taxes for the service you rendered but the issue is you have not got paid for it in INR and thus you cannot file tax return until you convert btc to INR at whatever rate you get, you are not legally bound to file tax if you did not receive INR, file capital tax whenever you convert them.