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      "author": "steemitboard",
      "body": "Congratulations @saumendra! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@saumendra/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@saumendra) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=saumendra)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @saumendra! You have completed some achievement on Steemit and have been rewarded with new badge(s) :\n\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstpost.png)](http://steemitboard.com/@saumendra) You published your First Post\n[![](https://steemitimages.com/70x80/http://steemitboard.com/notifications/firstvoted.png)](http://steemitboard.com/@saumendra) You got a First Vote\n\nClick on any badge to view your own Board of Honor on SteemitBoard.\nFor more information about SteemitBoard, click [here](https://steemit.com/@steemitboard)\n\nIf you no longer want to receive notifications, reply to this comment with the word `STOP`\n\n> By upvoting this notification, you can help all Steemit users. Learn how [here](https://steemit.com/steemitboard/@steemitboard/http-i-cubeupload-com-7ciqeo-png)!",
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      "author": "redeyes",
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      "body": "![Untitled.jpg](https://steemitimages.com/DQmPeKGxr5chVTQ39Jbwy1347thAS2DdgJR57qn2aEd76iv/Untitled.jpg) \n\n#Cryptocurrency is digital money. It is considered to be more secure than real money and less impacted by geopolitical issues and easy to transfer across countries with very less or no fees involved in lightning fast speed in comparison to fiat currency ( fiat currency transfer cross country takes 2-3 days in some cases). These aspects increased the interest in millions of people across the globe  in Cryptocurrencies and #Bitcoin being the oldest and first such currency has became synonym for Cryptocurrency. \n\nNow come the taxation part on such income. Many countries has not yet formed any rule around income tax on crypto profits and currently reviewing to set regulation , compliance and tax framework. Most of us are unaware of #incometax on cryptocurrency profit.\n\n  Note-:  This is only my view from little knowledge not any tax advice nor I am a tax expert or professional. I am just one of you invested few amount in Cryptocurrencies and did bit research on tax part as I have to pay too...:) and thought of sharing my views which might help others in having an idea on this aspect too. \n\n I think in near future Income from crytocurrencies might get classified under below framework for many counties. Some of the most popular cryptocurrencies are #Bitcoin #Ethereum #Ripple #DASH #Litecoin #IOTA #Bitcoin cash \netc.\n\n\n_**Scenario 1: Bitcoins or any cryptocurrency held as an investment being transferred in exchange for real currency**_\n\nIf bitcoins or any cryptocurrency, which are capital assets, have been held as an investment and are transferred in exchange for real currency, the appreciation in value would give rise to a long term capital gain or a short term capital gain depending on the period of holding of such asset. Further, long term gains would be taxed at a flat rate of 20% (INDIA Specific and varies from countries to countries) while short term gains would be taxed at the individual slab rate. The cost of acquisition for arriving at long term capital gains will be determined after giving the benefit of indexation.\n   \nOr  authorities may not consider Bitcoins or any cryptocurrency as a capital asset and hence the provisions of capital gains would not apply. It might get taxed as the gains under the head “Income from other sources”. If the income gets taxed under “Income from other sources”, the taxpayer would have to pay taxes at a rate as applicable to the tax slab he falls under.\n\n_**Scenario 2 :Income From Bitcoin Mining or any cryptocurrency Minning**_\n\n   Bitcoins or any cryptocurrency created by mining are self-generated capital assets. Subsequent sale of such asset would, in the ordinary course, give rise to capital gains. However, one may note that the cost of acquisition of a cryptocurrency cannot be determined as it is a self-generated asset so no capital gains tax would arise on mining.\n\n So in this case this gain might get calculated as per income tax slab user falls under adding minning profit to total income.income from mining might fall under the head “Income from other sources”.\n\n\n_**Scenario 3 : Bitcoin - Cryptocurrency held as stock-in-trade being transferred in exchange for real currency**_\n\nThe income arising out of such source of trading activity would give rise to income from business and accordingly, the profits arising out of such business might get taxed as per the individual slab rates.\n\n_**Scenario 4 : Bitcoins or any cryptocurrency received for sale of goods and services**_\n\nBitcoins or any cryptocurrencies being received so might be treated on par with receipt of money. It would constitute income in the hands of the recipient. Further, since the recipient received this income out of a business or profession, he might get taxed, normally, under the head profits or gains from business or profession.\n\nAs in comparison to fiat currency , cryptocurrencies are volatile in nature so it would be difficult to calculate profit as someone received it when it has high price and in due course of period might get de-valuated and vise versa.\n\n\n\n\n#income tax from bitcoin  #Income tax from Cryptocurrency  #income tax from mining #income tax from crypto mining",
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