New Delhi1 hour ago
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The price of Bitcoin, the world’s largest cryptocurrency, has crossed $1 lakh for the first time. Today i.e. on December 5, Bitcoin has increased by more than 7% to reach a record high of $ 102,585 (Rs 86.91 lakh). After Donald Trump’s US election victory last month, Bitcoin is witnessing a continuous rise.
Bitcoin price increased by 118% in 1 year In the last one year, the price of Bitcoin has seen an increase of 118%. A year ago i.e. on December 6, 2023, it was at $ 43,494 (Rs 36.85 lakh), which has now reached $ 102,585 (Rs 86.91 lakh). According to experts, we may see a rise in the price of Bitcoin in the coming days also.
Now 30% tax on earnings from cryptocurrency In India, 30% tax will have to be paid on earnings from cryptocurrency. Apart from this, TDS of 1% will also be levied on transactions using cryptocurrency. At the same time, 30% tax has to be paid even on gifting cryptocurrency to someone.
What is crypto currency? Cryptocurrency is a method of online payment. It is used to pay for goods and services. Crypto currency is a network based digital currency. Any company or individual can issue it in the form of a token. These tokens are used only to buy goods and services of the issuing company.
It cannot be controlled like the currency of any one country. Its entire operation is online, due to which it keeps fluctuating. The world’s first cryptocurrency Bitcoin was released as open source software in 2009. The group that created it is known as Satoshi Nakamoto.
