India would tax bitcoin

The country has not yet decided whether or not it will ban cryptocurrencies now, but the tax authority knows very well what it wants. As BTC has shown a strong strengthening recently, Indian investors and traders can prepare to pay tax on profits. This has been mandatory so far. For example, this category exists in my country as the Other Income, instead of dedicated crypto-tax.

From now will the agencies request KYC data from the local, legally operating exchanges and will be able to follow up on other purchases made with identification.