My syeemit friends:
Official sources said that the income tax department today conducted survey work on the main operations of Bitcoin Exchanges across the country on the suspicion of alleged tax evasion.
He said that under the command of Bengaluru's investigation branch, various teams of officials of the department visited the premises of nine such exchanges in the country including Delhi, Bangalore, Hyderabad, Kochi and Gururgram this morning.
They said, "The survey under section 133A of the Income Tax Act," to identify the identity of investors and traders, transactions made by them, identification of counterparties, and the use of related bank accounts to set evidence among other people. being done ".
Survey teams, sources said, are working with various financial data and inputs about the functioning of these exchanges and this is the first major action against them in the country.
Bitcoin, a virtual currency, is not regulated in the country and its circulation has been a cause of worry among middle bankers all over the world, which is still a bit late.
Reserve Bank of India has warned users, holders and traders of virtual currencies including bitcoins
In March, the Union Finance Ministry had set up an inter-disciplinary committee to take stock of the current level of the VC in both India and globally, and suggest measures to deal with such currencies.