India cancels spending of Bitcoin!

Indian Finance Minister,   Arun Jaitley’s Union Budget 2018, said India will not make Bitcoin cryptocurrencies a part of the current digital payment system.

The Indian Government

• Cryptocurrencies are ‘not legal tender’ and investors cautioned to sell, sell their Bitcoins !
• Income tax department has sent show cause notice to Bitcoin buyers and sellers.
• Cryptoexchanges should deposit 20% advance long-term capital gains tax on crypto earnings.
• Leading banks given 3-month deadline to help customers swap ‘Bitcoins for Indian Rupees’!

 

 

Investors are asking how much Indian Tax on Bitcoin sales?

Speculative Bitcoin income will attract 30% tax and 20% long-term capital gains tax if you bought over 2 years ago.

The worry for investors is left holding Bitcoins

Where to sell and how to transfer the net money after tax into own bank accounts? 3-month Deadline from RBI

How to avoid crackdown by tax authorities and other government agencies?

Exchanges are insecure and ill-prepared with 90% investors being on the sell side.

Investors tax payments – Bitcoin attracts 20% Capital gain on long-term gains (over 2 years) and up to 30% income tax on short-term gains.

HCE SERVICE ADVICE: Avoid Enforcement Directorate and Pay Tax at sell!

• 30% tax – short-term speculative gains less than 2 years;
• 20% tax – long-term gains if you bought Bitcoins over 2 years ago.

Sell (or buy) Bitcoins via HCEWALLET App

HCESERVICE launches “HCEWALLET” App

• Safegurad your Bitcoins – move them to your own secure HCEWALLET mobile app. Don’t store on an insecure/uprotected exchange anywhere! Online exchanges have had $Billions stolen!
• Your secure mobile app effortlessly provides Bitcoin trading service to sell (or buy) Bitcoins.
• The mobile apps, websites and the services are for residents of India and European Union.
• HCEWALLET is not a regulated financial services activity but complies with RBI and government recommendations concerning cryptocurrency.

Just follow 4 simple steps..

1. Download HCEWALLET Mobile App from Google Play;
2. Register with the App and agree to terms of use and privacy;
3. Load your BItcoins into the HCEWALLET App from your existing exchanges – Urgent! Save your stash on multiple mobiles if you own lots – we dont limit the number of accounts you want to split and offline save your Bitcoins!
4. Sell your Bitcoins via HCEWALET App and receive net after tax funds direct into your registered bank account.

 

Our HCE SWIM product family

We comply with HCE, EMV, PCI, PKI, Bitcoin standards

We deploy PKI and PCI data security standards in order to securely deliver smartphone based mobile payments. We handle sensitive payment cardholder data within our PCI secured data centres conforming to the latest Industry payments and security standards promoted by Visa and MasterCard card schemes, EMVCo and the PCI Council.