By Mihir Parikh, Strategic Thought Leader, and Nishith Desai, Founder and Managing Partner . Frustrating long lines at banks and shocking disorders in normal life have been the immediate aftermath of the Indian government’s effort to stamp out corruption, parallel black economy and counterfeiting by demonetizing high-value currency notes. While the intentions behind this radical move have ... Bitcoin Practice Group Nishith Desai Associates (NDA) are pioneers in Bitcoin Practice in India and have advised start-ups, entrepreneurs and investors. We were also engaged by Bitcoin Association of India to examine legality of virtual currency in India and raise policy related issues. We have advised traders, exchanges and Bitcoin wallet companies in exchange control, regulatory, compliance ... Nishith Desai, Founder, Nishith Desai Associates, Leading Research Focused International Legal & Tax Law Firm. As legal expert how you define Bitcoin – an asset, a commodity or a currency? It may be an asset or commodity, but not a fiat currency. It’s set of data files. At present how the tax authority treats the investment in Bitcoin? Currently there is no specific provision. But ... Nishith Desai, founder of Nishith Desai Associates, said:”Bitcoin and other crypto currenc ies (CCs) have tremendous benefits for most marginalized people, merchants, tax departments and ... Mr. Nishith Desai, who is an advisor to the RBI governor Raghuram Rajan, has recently submitted the white paper on Indian Legal & Tax Considerations for Bitcoin, via his firm Nishith Desai Associates. I guess that Christine Lagarde, the managing director of IMF, could not have put it in a better way when she said: “This is India’s moment ...
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