Tech start-up body writes to FM seeking crypto tax provisions in Budget

The letter lists nine recommendations to regulate crypto companies in the country

Technology start-up industry representative IndiaTech has told Finance Minister Nirmala Sitharaman that it is critical for the Union Budget to clearly lay down taxation clarity around crypto assets by formally naming them in tax laws besides the method of taxation and their disclosures. 

The budget document should also name and classify cryptocurrencies to be defined as digital assets and not currencies and grant them recognition as digital assets, the industry body has suggested. 

The letter, parts of which has been reviewed by Business Standard, lists nine recommendations to regulate crypto companies in the country.  

IndiaTech said that crypto assets should