I'm from India and have been trading in binary options for a while now, and have made some profit which I will be withdrawing through an e-wallet (Skrill/Neteller). Under what section do I declare my profits when I pay tax? Is there any special process/other factors that I need to consider?
EDIT: I've seen people (such as Dheer here) claim that binary options are equivalent to forex. I'm sorry, but I can't accept this response without proper citation. From what I have read, it is very often considered to be a form of gambling, which is not at all illegal in India and is taxable.
EDIT2: If I were to convert my e-wallet money to bitcoin - can I sell these bitcoins, declare the sale and pay tax on it?