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Budget 2023 - Crypto Taxation – Impact Assessment & Corrective Measures

23 January 2023

Who knew that the advent of pandemic would unleash a blitzkrieg putting Virtual Digital Assets (VDAs) in prominence as never before. As other investment options fell out of favour, investors found haven in Cryptocurrency and other VDAs driving the market. Cryptocurrency or Crypto has been around for long enough that several countries have developed regulations to cater to the ever-growing thirst of investors looking for investment avenues. Inconsistency in the tax position around Crypto have been a cause of concern for Crypto operations in India from the very incipient stage which has been exacerbated by the new VDA tax regime introduced by the Union Budget 2022. Ever since, unlike a fairytale, the Crypto industry seems to be facing a hard landing.

For a deeper insight, Taxsutra presents a Special Series “Crypto Taxation – Impact Assessment & Corrective Measures” with inputs from Esya Centre’s Report Virtual Digital Asset Tax Architecture in India: A Critical Examination.