Are crypto assets taxable in India?

Are crypto assets taxable in India, and if so, what are the specific tax implications and regulations that individuals and businesses need to be aware of? It's a crucial question for anyone looking to invest in or trade cryptocurrencies in the country, as understanding the tax framework can help ensure compliance and avoid potential penalties. With the increasing popularity of digital currencies, it's essential to stay informed about the latest tax laws and guidelines surrounding crypto assets in India.