‘Those earning Bitcoins would have to pay taxes,’: CBDT

Updated:7 years, 8 months ago

New Delhi, Feb 06 (ANI): Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra on Tuesday said that those who have earned Bitcoins will have to pay tax. He added that the source of income of the owners of Bitcoin will also be asked and if they don't pay tax, action will be taken against them. This virtual currency emerged in the aftermath of the financial crisis and allows people to bypass banks and traditional payment processes to pay for goods and services.

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