Finance Minister Nirmala Sitharaman presented the Income Tax Bill, 2025 to the Lok Sabha on February 13th, focusing on clarifying the definition of “virtual digital assets (VDAs)” within the Indian tax framework. This bill follows the recent FY2025-26 budget presentation.
While the budget speech earlier this month did not address any revisions to existing crypto tax laws, a point of disappointment for the crypto community, the new bill seeks to provide much-needed clarity on what constitutes a VDA. This suggests the government is moving towards a more defined regulatory approach for cryptocurrencies and other digital assets, though the specifics of the bill’s impact on the crypto sector remain to be seen. The introduction of this bill indicates a continued focus on incorporating VDAs into the established financial and regulatory landscape.
