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Explained: CBDT Targets Unaccounted Income Invested in Crypto
- The Central Board of Direct Taxes is sending notices to thousands of individuals and entities for not declaring income from cryptocurrency transactions, as reported by government sources.
- The CBDT has identified violations of the Income Tax Act related to Virtual Digital Asset transactions, according to tax department sources.
- Thousands of defaulting taxpayers have received emails from the CBDT, urging them to review their income tax returns for undeclared Virtual Digital Asset income.
15 Articles
15 Articles
Explained: CBDT targets unaccounted income invested in crypto
The aim is to curb tax evasion and the laundering of unaccounted funds. The CBDT has identified some "high-risk persons" who are investing in virtual digital assets but have not complied with the Income Tax Act. ...
Thousands get tax notices over crypto, digital asset investments - The Tribune
Unaccounted incomes invested by individuals and entities are under government’s active scanner with the Central Bureau of Direct Taxes issuing notices to thousands to declare undeclared assets.
Unaccounted income invested in crypto on I-T radar
The CBDT is actively investigating tax evasion and money laundering linked to cryptocurrency investments, specifically targeting individuals and entities who have not disclosed Virtual Digital Asset (VDA) income in their tax returns.
Unaccounted Income Invested in Virtual Digital Assets on CBDT Radar
Get latest articles and stories on India at LatestLY. The Central Board Direct Taxes (CBDT) is investigating tax evasion and laundering of unaccounted income by high-risk persons through investment in crypto currency. India News | Unaccounted Income Invested in Virtual Digital Assets on CBDT Radar.
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