How will India tax cryptocurrency investments? ...Middle East

Quartz - Economy
How will India tax cryptocurrency investments?
source : Quartz ( Middle East ) () 5
Cryptocurrency is surging in popularity in India as an investment and, increasingly, a means of payment by companies for their products and services. This brings in the question of how to pay taxes on those types of transactions.While the Reserve Bank of India (RBI) has not granted legal tender status to bitcoin and other cryptocurrencies, there is no escape from paying tax on cryptocurrency investment gains. The Indian government is planning to compartmentalise virtual currencies and their tax treatment on the basis of their use cases—payments, investment, or utility, according to the Economic Times.“Cryptocurrency gains could happen from multiple ways such as mining, staking, farming, or c

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