20 Apr '17, 12pm

Bitcoin to Gain Legal Status in India, Reports Local Media

Which means, there will be relevant acts and laws about it. There will be regulations. There will be Reserve Bank of India (India’s central bank) guidelines for transactions and investments made with bitcoin. There will be tax levied on investments. If you use Bitcoin to make international payments then the FEMA (Foreign Exchange Management Act) will have laws that will affect remittances. And, whatever you get in return for any bitcoin investments will see a tax charge.

Full article: https://www.cryptocoinsnews.com/bitcoin-gain-legal-status...

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