Budget 2022: A Step Towards Recognition Of Digital Assets As An ‘Asset Class’ Shantanu Jindel, Partner, JSA

"The Government's move to impose a 30% tax on all virtual digital assets such as cryptocurrencies and NFTs has two underlying themes – (a) recognition of digital assets as an ‘asset class’ while the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 is pending before the Parliament and (b) not yet providing encouragement on incentive to transactions in digital assets."