2017 bitcoin mining taxes

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Note: In Budgetit specialised computers, and miners process your acknowledgment number online.

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Crypto Mining Taxes � All You Need To Know
20 lakh, individual miners will need to register them-selves under the Goods and Services Tax (GST). The proposal also considers `wallets' storing keys taxable. Bitcoin earned through mining is taxed at your regular income tax rate as gross income. The amount of tax owed is assessed based on the value of the bitcoin on. about 6 percent of all Bitcoin users are placed in this category controlled more than half of all Bitcoin mining capacity at the end of

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Tax filing for professionals. In a scenario where both buyer and seller are in India, a transaction would be treated, as a supply of soft-ware and the buyer's location will be the place of supply. Clear all. The basis of the donation is often the fair market value of the digital currency at the time of the transaction.