⚠️ INDIA’S CRYPTO TAX CRACKDOWN BEGINS — THOUSANDS UNDER CBDT INVESTIGATION! $BTC $XRP $SOL

🚨 Massive panic across Indian crypto circles as the Central Board of Direct Taxes (CBDT) launches a nationwide investigation into unaccounted crypto income and possible money laundering through Virtual Digital Assets (VDAs).

📍 What’s happening?

CBDT is now actively cross-verifying Income Tax Returns (ITRs) with data submitted by crypto exchanges (VASPs). Any mismatch in reporting — including under-reporting, false claims, or non-disclosure — could trigger legal scrutiny.

🧨 KEY TARGETS UNDER FIRE:

Traders and firms who failed to declare VDA income

Individuals wrongly claiming cost indexation or deductions

Filers skipping Schedule VDA in their returns

Those using high-risk assets for laundering black money

💸 Under Section 115BBH, all crypto gains are taxed at 30% flat with no expense deductions, and losses can’t be carried forward.

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