Didn’t report your crypto earnings? Income tax dept sending tax notices, conducting search & seizure for undisclosed income; know your optionsThe Income Tax Department is contacting taxpayers about cryptocurrency taxes. Many individuals did not report crypto transactions correctly...
Unaccounted income invested in virtual digital assets on CBDT radarSuch entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax A...
Unaccounted income invested in Virtual Digital Assets on CBDT radarThe CBDT is actively investigating tax evasion and money laundering related to cryptocurrency investments by high-risk individuals. Many in...
Crypto income on I-T radar; department sends emails to individualsThe Income Tax Department is contacting people about crypto taxes. Many individuals did crypto transactions but did not report the income. ...
Income tax on crypto currency: How did budget 2025 impact the taxation on virtual digital assets?Budget 2025: Income tax on cryptocurrency transaction. After Budget 2025 there is no change in taxation of cryptocurrencies as they continu...
Tax filing for crypto investors: All you need to knowVDA transactions, including sales, are subject to a 30% capital gains tax in India. A capital loss in one VDA can’t be offset against profi...
ITR filing: Three changes in income tax return forms for FY 2022-23 (AY2023-24)The income tax return (ITR) forms has been released by the Central Board of Direct Taxes (CBDT). Though there are no major changes in the I...
How to report crypto income in ITR. Can I avoid tax? All your crypto tax queries answeredCrypto taxation is a relatively new concept in India, with the Finance Act 2022 being one of the country's first laws to recognize crypto a...
Traders in dilemma over disclosing cryptocurrency as foreign assetOver the past two years as more and more banks in India blocked payments for crypto deals, many traders shifted their coins in wallets of f...
Latest ITR forms have new section for cryptocurrency income: These details will be needed when filingThe new schedule for VDA requires details like date of acquisition, date of transfer head under which income to be taxed (capital Gain), co...
ITR Filing: Know income tax return (ITR) form applicable to you, penalty for missing the deadlineThe government has notified the income tax return forms for FY 2022-23 in February 2023. The income tax department is gradually releasing t...
E-filing of income tax return forms 1, 4 for FY2022-23 (AY 2023-24) has started via offline methodThe income tax return forms were notified by the Central Board of Direct Taxes (CBDT) in the February 2023, well after Budget 2023. This wa...
Crypto investors seek clarity on reporting assets in I-T returnsHaving shifted the coins offshore using the Blockchain network to avoid stifling regulations, they have sensed that sharing the information...
Next year's I-T return to have separate column for crypto income: Revenue SecyThe government will from April 1 charge a 30 per cent tax plus cess and surcharges, on such transactions in the same manner as it treats wi...
Crypto tax will help I-T measure 'depth' of market; does not bestow legality to trade: CBDT Chief"The department does not sit in judgement over the legality of any transaction. The income-tax department and the income-tax Act only looks...
Do you have to report cryptocurrency investments as foreign assets in your income tax return?As per current laws, there is no clarity on whether crypto holdings are classified as Indian or foreign assets. In case it is the latter, t...
How to report cryptocurrency gains, losses in income tax returnWhile currently, there are no specific guidance/specific tax provisions on taxation of cryptos in the Income-tax Act, 1961 (the Act), one c...