Bitcoin May be Recognised and Taxed in India Before The Summer – Bitcoints

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Published on April 20th, 2017 | by bitcoin

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Bitcoin May be Recognised and Taxed in India Before The Summer

According to the latest reports, India might officially recognize Bitcoin as money before summer and impose a tax on the digital currency as the answer to its recognition.
As per the exclusive information received by CNBC Awaaz, the government is planning to regulate Bitcoin and have necessary taxes on it.


The common virtual currency, Bitcoin, is not currently regulated and the government has plans to do so.
That means all the activities related to Bitcoin should be properly monitored (and) applicable taxes should be added.
The RBI should have guidelines for investing in Bitcoin, sending and receiving money from abroad through Bitcoin should have guidelines from FEMA.

Source: Cointelegraph.com

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