In India, by the end of the fiscal year ending March 31, the proper rules for the regulation of the Crypto-currency will be developed. This was stated by the secretary of the Ministry of Finance on economic issues Subhash Chandra Garg (Subhash Chandra Garg).
Subhash Chandra Garg leads one of two committees set up by the government to study the impact of the crypto currency market on the country’s economy and develop recommendations in this area.
Indian tax authorities also did not ignore the country’s crypto-currency market. After carrying out large-scale checks of crypto-exchanges, tens of thousands of tax notifications were sent to traders with a proposal to pay a tax on capital gains.
Against this background, the largest Indian crypto-exchange exchanges have already appealed to the authorities with a request to quickly determine their tax status.