Is it legal to trade in cryptocurrency in India ?
Share
Subin VR, Chartered Accountant,FCA, DISA (ICAI) 
Answered on May 26,2021
There is no illegality as of now.
45 views
Related Questions
-
Robert James
20+ years of experience in IRS matters .What steps can we take immediately to address the IRS Notice of Deficiency for my son's cryptocurrency trading on Robinhood, where they've added every transaction as income and he's facing a substantial tax bill and penalty that he can't afford as a college student, with our court petition deadline approaching soon?
File the petition with Tax Court! That is the most important thing to do before the deadline. It is extremely ...
1
0
9
-
Start Any Business
Company Setup Services Dubai, UAE . Answered on October 18,2022How to start a cryptocurrency business in Dubai?
Before starting a cryptocurrency business in Dubai, one needs to obtain a cryptocurrency license in Dubai. Recently, three of ...
1
0
153
-
Citizen Helpdesk
Curated Answers from Government Sources . Answered on May 18,2021I bought Shiba coins on WazirX at 3 rupees while Shiba was selling at other exchanges at 0.0012 rupees. They manipulated the market and made me buy it at this price. Where should I complain about it ?
Bitcoins are outside the regulatory purview of SEBI. All SEBI registered intermediaries are available on SEBI website under the ...
1
0
391
-
Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on September 19,2023I am working for a company abroad online from india. I am getting paid in crypto. Is this legal if i convert to cash? If so how i file tax for my salary?
First things first, Crypto, although taxed, is still not legal in India! There are many platforms to receive your money ...
1
0
64
-
Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on November 25,2021If my salary is paid in crypto, how can I report this tax filing in India since the price of crypto fluctuates?
You can consider the value of crypto on the date of receipt as salary. And if there is any ...
2
0
1109
-
Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on October 18,2021If my salary is paid in crypto, how can I report this tax filing in India since the price of crypto fluctuates?
You can consider the value of crypto on the date of receipt.
2
0
1161
-
Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on November 25,2021How do I report cryptocurrencies on my tax returns?
If cryptocurrencies are held as an investment, you have to show it under the head of Capital Gains. Gains ...
1
0
83
-
Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on February 28,2023What kind of taxes are cryptocurrencies subjected to in India?
Income Tax
1
0
28
-
Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on August 17,2021Is there any tax problem if I accept Dogecoin in my shop in India from the customers?
No tax problems at all. If there is gain from your investments; you have to pay tax. Thats all.
1
0
55
-
Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on May 26,2021Can I do crypto trading in my company account ?
It depends on the objectives of the company. If investment/trading is one of the objective, then you can do ...
1
0
57
-
Shyamal Modi
Tax Advocate | Financial Advisor | Virtual CFO . Answered on November 25,2021Is it necessary that I file taxes for my cryptocurrency?
Yes, you have to file an Income Tax Return if your total income from all sources is more than ...
1
0
79
-
Subin VR
Chartered Accountant,FCA, DISA (ICAI) . Answered on February 28,2023Is it necessary that I file taxes for my cryptocurrency?
Yes
1
0
7