Crypto bill India: Government readies crypto bill, works on listing tax issue | India Business News – Times of India

NEW DELHI: Finance minister Nirmala Sitharaman on Monday said that the government was working to sort out the tax issues for overseas listing of Indian companies, while readying the proposed legislation on cryptocurrency, amid indications that there may be an exit option for those who had invested in virtual currencies.
Although the government had amended the Companies Act to allow direct listing of Indian companies on foreign exchanges, it is yet to undertake a crucial amendment related to capital gains tax on these shares. Stating that internal “homework” had been done, the FM said: “India itself is becoming a haven for raising money and a lot of companies are raising money here and some of it is big-ticket fund-raising.”
In recent weeks, the liquidity surge has resulted in a rush of IPOs, with several issues, including the mega LIC one, lined up for later in the year to meet the government’s disinvestment target of Rs 1.75 lakh crore.

Maintaining that the selloff programme was on course, Sitharaman told reporters that inflation had moderated and will remain below the 6% comfort level, amid signs of higher consumption and a pick-up in investments. “The economy is clearly coming out of the challenges of the second wave,” she said, adding that the government will keep responding to issues that come up in future.
She said the finance ministry was pushing other wings of the government to undertake capital expenditure that has been provided for in the Budget and recent checks on spending were limited to wasteful spending. Asked about the recent amendments on the provisions related to retrospective taxation, the minister said the rules will be ready soon and officers were explaining the critical features of the amendments, which had been notified into a law.