Why should you take payment in crypto ?

[awesomewebsites]

I have started providing some services only for crypto payment and I let those funds grow. Here is the growth in one month.

In brief, the amount doubled in a month. If possible, you should also consider taking payments in it.

 

[Alfie777]

Yep, there are positives such as that and the fact you can't get chargebacked on.

 

[awesomewebsites]

Yep, there are positives such as that and the fact you can't get chargebacked on.

That is another advantage. Only payment option that is in favor of sellers.

 

[Sristy]

Great Krishna. All the best!!

 

[Degen]

Hahaha no.

Ether market crash before change to fiat will cost you

 

[Basileuon]

Is also tax free...

 

[Basileuon]

That is the best feature.
How can I forget.

eheheheh, this is THE best feature

 

[Gogol]

Is also tax free...

Not quite.try explaining to the IT dept of Indian govt. When you do an exchange.

 

[nayannp]

Is also tax free...

This reason grabs my attention most to get payments via crpyto

 

[Basileuon]

Not quite.try explaining to the IT dept of Indian govt. When you do an exchange.

Well, at least not in Europe...

 

[Gogol]

Well, at least not in Europe...

Indian govt. hates crypto. I dunno Krishna filled up the IT returns or not but I actually had to show the transactions as payment for web development, as my accountant suggested last year. The problem is, if you withdraw too much in a year, or if your whole income is dependent in those transactions only, you are gonna get in trouble for sure.

 

[Basileuon]

Indian govt. hates crypto. I dunno Krishna filled up the IT returns or not but I actually had to show the transactions as payment for web development, as my accountant suggested last year. The problem is, if you withdraw too much in a year, or if your whole income is dependent in those transactions only, you are gonna get in trouble for sure.

I don't want to say, but why are you showing your crypto-wallet to them?

 

[Array Experts]

Our Govt Should Legalize Crypto

 

[Gogol]

I don't want to say, but why are you showing your crypto-wallet to them?

Why would I show them my wallet? The problem is when you try to cash it out. I use localbitcoins btw.

 

[JB2302]

and in india it is not difficult to arrange a fella with no use of bank , pay him few 100s, and cash it out all in paper, and keep it
do it once a year.

 

[awesomewebsites]

Our Govt Should Legalize Crypto

You should enjoy as long as it is allowed.

 

[awesomewebsites]

The problem is, if you withdraw too much in a year, or if your whole income is dependent in those transactions only, you are gonna get in trouble for sure.

How much is too much ?

 

[Gogol]

How much is too much ?

I would believe exceeding the minimum taxable income because that is when they start tracking you. Don't be surprised if they come after you for a 50000 rupees transaction because they ask for PAN after that right?

You can pay taxes on the crypto income but still can get fucked by the govt because of the source

 

[awesomewebsites]

I would believe exceeding the minimum taxable income because that is when they start tracking you.

Is this a joke ?

 

[Gogol]

Is this a joke ?

No. Not at-least from my side. I am very freaked out when it comes to Income Tax and I pay all my taxes every year. Take it of leave lol.

By the way.. "they start tracking you" thing is mostly for those who have their PAN and who deal with bank transaction. Every time you get/pay money, your PAN has it logged. The banks have to send your detail every year AFAIK.