‘Those who have earned from Bitcoin will be taxed’

‘Those who have earned from Bitcoin will be taxed’

 

New Delhi, Feb 6: Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Tuesday clarified that money earned from bitcoins would be applicable for taxation.
“Those who have earned from Bitcoins would have to give tax. Their source of income would also be asked, and if they don’t pay tax, action will be taken against them,” Chandra told reporters here. Amid the rising popularity of Bitcoins, the Government has time and again, reiterated that such kind of virtual currencies will not be considered legal tender in India.