In the upcoming Union Budget, investors in virtual digital assets (VDA) are seeking relief on the taxation framework, particularly the ability to claim losses, even as gains from cryptocurrency remain taxable at 30 per cent under Indian law, Rohit Garg, Partner at Shardul Amarchand Mangal
"Today, if a purchaser pays a price below the tax fair market value, the difference is taxed in the hands of the purchaser as ordinary income. In listed shares, the fair market value is pegged to the stock exchange price, and in off-market deals, parties have no control over price movements
The India-EU FTA is set to unlock major trade expansion across sectors, even as certain teething issues are expected during the rollout of the landmark pact between India and the European Union, Rudra Kumar Pandey, Partner at Shardul Amarchand Mangaldas & Co., told ANI on Thursday.