How are Indian crypto industry and investors coping with the new tax regime? Why foreign diplomats are rushing to New Delhi? Is the worst over for the markets? What is CUET? All answers here
Team TMS |
The onset of a new financial year brought with it a slew of changes in the tax regime. And one of them seemingly dealt a big blow to crypto trading in India. Now income arising from the transfer of any virtual digital asset will invite a flat 30% tax. Another rule says that crypto losses cannot be set off against gains made from the transfer of another digital asset. So how will these new norms impact Indian crypto industry and investors? After India’s tough stance on cryptocurrencies, let us move on to its diplomacy. Dignitaries from a host of countries are making a beeline for India.
Russian foreign minister Sergei Lavrov, UK’s foreign secretary Liz Truss, US’s deputy national security advisor Daleep Singh, Mexico’s foreign minister Marcelo Ebrard and Netherland’s national security advisor Geoffrey Van Leeuwen were in New Delhi last week. What explains this sudden increase in diplomatic traffic? And what does India stand to gain from it? India’s neutral stand on Ukraine-Russia war has indeed ruffled a few feathers in the west. Meanwhile, this war is taking a toll on stock markets too. Markets kicked off FY23 on a positive note with benchmark indices S&P BSE Sensex and Nifty 50 closing over 1% higher last Friday. But, the double whammy of higher inflation and exit of easy money policy continues to endanger investors this fiscal year. Watch our next report to know if markets can withstand turbulent times or is there a devil waiting in disguise? After the war and its effects on stock markets, let us now move on to India’s ambitious ‘One Nation, One Test’ programme for admission to central universities. The registration process for Common University Entrance Test (CUET) 2022 kicked off Saturday.
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