and made good money and withrew that money from exchange into his account it will be taxed ?
Every penny you earned by any means is taxable , even if you earn by smuggling. As soon as you sell , tax is payable ,no matter you withdraw to bank or not , just like share market .
Okay but will it come under ltcg of business income if it's more than a 1cr
Business income will cover anything .. ltcg cases are very rare
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