The future of cryptocurrency is still uncertain in India. The majority are eagerly awaiting The Cryptocurrency Regulation of Official Digit Currency Bill ("Crypto Bill") to be introduced. However, some changes were made to the Income Tax Act 1962 ("IT Act") that will allow for cryptocurrencies and NFT in Finance Bill 2022 (Bill no. 18 of 2022 ("Finance Bill"), as presented in the Lok Sabha provide some clarity about how these assets will be treated - particularly from a tax perspective.
