Thursday, December 21, 2017

Cryptocurrency traders biggest fear manifesting in India as government looks to go after 500,000 Bitcoin traders for tax evasion

On Dec. 19, officials in India completed an extensive five city sweep of several Bitcoin exchanges where they accumulated upwards of 500,000 accounts that could soon be subject to their investigations for tax evasion.

Being investigated for possible tax evasion is one of the biggest fears of traders in the cryptocurrency sphere, and it ranks up there with cyberhacking and the potential of losing one's assets if a given exchange they use suddenly becomes insolvent.

The Indian government has initiated a probe against at least half a million people, including public figures and celebrities, who allegedly invested a large amount of their wealth into virtual currencies in the last few months through exchanges spread across the country. Gains made from Bitcoin trading come under the tax net as they can be classified as "taxable assets" if not income, according to Indian tax laws. 
"The department has collected a large number of documents, including customer's credential verification papers, last week from the exchanges. After careful scrutiny, the department will start sending notices to the investors who have invested large sums in the cryptocurrencies," an income tax official who did not wish to be named told Sputnik. – Sputnik News


I Basically think we all don't have to face all these deceit and lies from our a case of mine wen i got sick and tired of all the lies and deceit i had to contact a friend of mine to get me the contact of one of the best hackers in the states ..then i met saved me from the lies of my cheating husband by hacking his phone..Incase you need help with hacking any phone or account or other jobs contact him via email (CYBERHACKTON@GMAIL.COM) Tell him i reffered you.He will help you.

Post a Comment