• News Desk - Media Mahima

INDIA: I-T will tax Bitcoin trade

Pursuant to a statement made by Finance Minister, Arun Jaitley regarding the elimination of cryptocurrency trade in India, the Income Tax Department has issued "few lakh" notices to those who have put their funds in bitcoins and it is working to obtain taxes that are due on these investments. CBDT Chairman Sushil Chandra told PTI that it has come to the notice of the taxman that while many such investors "did not pay advance tax" on the benefits which they have accrued, some others have not explained these investments in their tax returns in the past.

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#india #businessnews #Bitcoin #arunjaitley

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