Economic Laws Practice analyses India’s new regime for taxing virtual digital assets announced in the country’s Union Budget 2022 and set out in the Finance Bill, 2022.
In her address during India’s Union Budget 2022, Finance Minister Nirmala Sitharaman introduced proposals to tax virtual digital assets (VDAs), including cryptocurrencies.
This article from the Taxand firm in India examines the likely impact of these proposals and the Indian government’s stance on cryptocurrencies.
It also notes that India’s Finance Ministry is expected to publish a detailed set of guidelines on the tax treatment of crypto transactions to avoid confusion and litigation.
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