Crypto Income on I-T Radar; Department Sends Emails to Individuals

Crypto income on I-T radar; dept send emails to individuals

New Delhi, Jun 13 (PTI) The Income Tax Department has sent a communication to thousands of individuals who have undertaken cryptocurrency transactions but failed to reflect this income in their returns, official sources said Friday. These transactions pertain to assessment years 2023-24 and 2024-25, they said. The department and its policy-making body, the Central Board […]

Crypto income on I-T radar; department sends emails to individuals

The Income Tax Department is contacting people about

Income Tax Department Targets Unreported Crypto Gains: Thousands of Notices Sent

Income Tax Department Cracks Down on Unreported Crypto Earnings The Income Tax Department of India has begun a major crackdown on taxpayers who have failed to report income from cryptocurrency transactions in their tax filings. This move comes after an analysis of data from cryptocurrency exchanges revealed discrepancies between reported incomes and actual transactions. Many individuals have underreported or entirely omitted their crypto earning…

Crypto income on IT radar; dept send emails to individuals – YourStory.com

… crypto transactions has not been declared or mis-declared by them. This … crypto transfers. The provision does not allow deduction of any … Source link The post Crypto income on IT radar; dept send emails to individuals – YourStory.com first appeared on Crypto News Wire.

Crypto Tax India Crackdown: CBDT Sends Notices to Thousands for Undeclared Income - Coin Surges

The post Crypto Tax India Crackdown: CBDT Sends Notices to Thousands for Undeclared Income appeared first on Coinpedia Fintech News India’s Central Board of Direct Taxes (CBDT) has initiated a large-scale investigation into individuals and entities who failed to report income from Virtual Digital Assets (VDAs), including cryptocurrencies. What Happened? The CBDT has identified widespread non-compliance related to crypto income and has sent notic…

Crypto Tax India Crackdown: CBDT Sends Notices to Thousands for Undeclared Income

The post Crypto Tax India Crackdown: CBDT Sends Notices to Thousands for Undeclared Income appeared first on Coinpedia Fintech News India’s Central Board of Direct Taxes (CBDT) has initiated a large-scale investigation into individuals and entities who failed to report income from Virtual Digital Assets (VDAs), including cryptocurrencies. What Happened? The CBDT has identified widespread non-compliance related to crypto income and has sent notic…