Quote from: webtricks on November 15, 2020, 08:00:33 PM

Quote from: crypto.james on November 15, 2020, 12:38:27 PM

Quote from: webtricks on November 15, 2020, 11:04:52 AM

~snip~

Thank you webtricks for our reply,

We are incorporated entity LLP, we can register as a corporate account in zebpay, i spoke with them they are ok with that , but my question is as client is not giving us an agreement , how can we prove that we got that bitcoins from another company and can raise invoice for that and pa tax , My CA is sating we need to show legal documents that we are working for that client and raise invoice for him to pay the tax .

Oh, your firm is LLP then yes, you can surely go for an exchange corporate account.

Your CA is right, as I said in the last paragraph, you need to enter into an agreement with your client. It doesn't have to be in any specific format. Just details like the project duration, the specifics of the project, consideration to be received and the fact that consideration will be paid in bitcoin. Type all these details in a text file, tell the client to sign the printed document with his name, scan the document and send that back to you. Then you sign on the same document and hold it as the proof. After that, issue taxable invoice to your client every month (with GST), pay GST to the government on the portal. If you are able to do these steps then there is nothing to worry.

You can proceed without the signed agreement as well because paying income tax and filing return don't require you to provide the agreement. But that would be risky thing to do. In case authorities make any query, you should have ready document with you to show. So I would suggest you to only proceed if client is ready to sign the contract.

Thank you webtricks, If getting agreement from client is the better option , we will get to get that first