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A case for bitcoin - Business

A small percentage of asset allocation to bitcoin seems like a reasonable gamble, as it could be a major gainer in an uncertain global environment, says Devangshu Datta.

Illustration: Dominic Xavier/

The last year has seen a huge jump in cryptocurrency trading volumes and valuations. Bitcoin was trading at $3,410 per coin last week, about 475 per cent above the price of August 2016 of...

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Bitcoins: I-T notices to over 400,000 HNIs across India ...

The trigger for the action is understood to be the huge spike being registered in the value of bitcoins and other virtual currencies in the recent past.

Widening its probe into bitcoin investments and trade, the Income Tax (IT) department is set to issue notices to 400,000 to 500,000 high networth individuals


(HNI) across the country who were trading on the exchanges of this unregulated...

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Related topics : virtual currency exchange bitcoin / virtual currency bitcoin / virtual currency trading india / virtual currency laws in india / virtual currency in india

Made a Bitcoin fortune? Pay the tax now! - Business

Based on the holding period, the profit you make are liable to short-term or long-term capital gains tax, experts tell Tinesh Bhasin.

While virtual currencies like Bitcoin are gaining popularity, there is still lack of clarity on how they should be taxed.

Many buyers of cryptocurrencies, therefore, don't pay tax on the gains they make on selling them.

Software developer Pawan Bharti recently sold...

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Related topics : virtual currency exchange bitcoin / virtual currency like bitcoin / virtual currency exchange definition / virtual currency exchange business / virtual currency exchange software

India mulls bitcoin, may call it Lakshmi - Business

The cryptocurrency will fall in the RBI's domain.

Rajesh Bhayani reports.

The central government is considering a proposal to introduce its cryptocurrency similar to Bitcoin.

Sources close to the development said the proposal was discussed by a committee of government officials, and the panel found the idea of setting up and running blockchain for financial services useful.


Whenever the decision is taken, the cryptocurrency will fall in the domain of the Reserve Bank of India and some Acts...

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Related topics : bitcoin bank india