Tamil Nadu bitcoin holders under scanner

As on Tuesday, one bitcoin is equal to Rs 11.64 lakh in the Indian market and US $ 17,907 in the international market. “Yes we have started investigating it here also,” a senior I-T official from the investigation wing said. The department started sending notices to people who had purchased bitcoins through exchanges functioning across the country. 

It is believed that the I-T department had collected all details of bitcoin holders after carrying out surveys at nine exchanges in the country last week. It is currently looking at people across major cities for alleged tax evasion and parking of unaccounted money in the virtual currency. 

Nationwide, the I-T Department had reportedly issued notices to nearly 5 lakh people believed to have invested in the virtual currency to encash surging price.