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RE: Bitcoin: Indian Tax Officials to Send Tax Notices to 500,000 HNWIs for Possible Tax Evasion!

in #bitcoin7 years ago

I think it will be cool if people pay tax from cryptocurrency earning. But how would the tax be measured. Earnings are not fix/constant. It will be a hell of calculation to measure taxes. Take for example steemit earning, how do you measure tax when part of the earning is in steem power which cannot be withdrawn immediately.
Or maybe i dont get the whole tax thing and how it can be quantified yet.

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Any cryptocurrency that is not held in Indian exchanges cannot be traced by Indian government. Any cryptocurrency that is not encashed to your bank account cannot be taxed.

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