IT Department surveys on digital currency users

The Income Tax Department conducted a survey in accord to Section 133A of Indian Income Tax Act and gathered information about the digital currency users, transactions and other data. The IT officials went along with this widespread operation over suspicions of tax evasion by users rolled out. Arun Jaitley, Finance Minister of India, stated that bitcoins are not recognized as legal tenders and the government is looking forward to receive “recommendations” proposed to regulate cryptocurrency market.

Leave a Reply

Your email address will not be published. Required fields are marked *