Background The central Asia region consists of the 5 countries Kazakhstan, Uzbekistan, Kyrgyzstan, Turkmenistan, Tajikistan. All this countries were formerly the part of USSR ( Soviet union ). They share key border with Russia, China, Europe, the Caspian sea , Iran , Afghanistan and Pakistan. It is this the geostrategic location of central Asian countries which makes them a critical partner for India. Apart from the strategic importance the central Asian republic is also blessed with natural resources ranging from oil and gas, uranium, and precious metal. This important characteristics of the region makes the region very important for India and other major super power in the world. India however has shared very close relationship with the region. Since, the days of the Soviet era. India had a trading relationship with the central Asian countries many defence equipments imported from USSR were developed in the factories which today are based in CAR ( Central Asian region ).
Tax on Crypto income During the recent budget it was proposed that a flat 30% tax will be imposed on all income generated through the transactions of virtual digital asset which include crypto currencies. They have decided for this high tax to keep small investors away and protect them from the volatility of this market which is of very high risk. Budget also says that any losses on a crypto transactions cannot be offset against the profit to claim tax reductions. This feature is however is offered when you suffer losses in your investment in stock market. Then it also propose a TDS of 1% on all the crypto transactions so that the transactions can be captured at the source itself which will help the tax authorities to monitor tax compliance in this regard. The budget also made it very clear that crypto currency will never be adopted as legal tender. Instead the government has proposed a introduction of digital rupee based on block chain technology and this will be issued and maintain