The Word ‘Mining’ used in Explanation (ii)
Do it includes mining of Cryptocurrencies or it only includes mining of Coal etc.
The full context of the question would be:-
Whether the domestic manufacturing company engaged in Crypto Mining would be eligible for Sec 115BAB or not (Assuming that Crypto mining is also a manufacturing of article or thing manufactured (Intangible) ) ?
Hello,
Although there is a lack of explicit provisions on crypto currency , experts have their views on the taxability of the same.
There’s a different view on this issue. Crypto mining should not be considered as manufacturing just like minting currency notes can not be considered as manufacturing.
However person minting the crypto gets crypto which must be considered as an income. It shall not be considered as self generated asset as there involves cost of computers. And hence the income should be classified under income from other sources head.
So it should not be convered under 115BAB since it is not manufacturing