Slightly Off from A Point of Absolute Uncertainty
Recently there were certain media reports on the
Government's scrutiny of virtual digital assets, questioning
its very existence from a regulatory perspective.
Virtual assets like crypto tokens, being a new age digital
asset, require better understanding of the technology involved and
associated complexities. To this end, the Government has been
attempting to introduce the Crypto Bill and enactment of laws
around the same. However, the tabling of Bill in the Parliament was
deferred indefinitely with bureaucrats citing sensitivity &
intricacies involved, which is delaying the finalization.
At this juncture, the buzz word was taxation of income from
these digital assets – whether capital gain tax should
apply/are they in the same nature of speculative business income,
etc. However, the popularity of virtual currencies (one form of a
digital asset) and sudden rise in retail investments in these
currencies has
