I-T to tax Bitcoin trade, has issued lakhs of notices: CBDT
CBDT Chairman Sushil Chandra said the Income Tax Department has issued a "few lakh" notices to Bitcoin investors and is working to obtain taxes on these investments. While many investors didn't pay advance tax on the benefits, some haven't explained these investments in their tax returns, he added. The I-T Department found over six lakh active cryptocurrency users in India.