๐๐ฟ๐๐ฝ๐๐ผ ๐จ๐ป๐ฑ๐ฒ๐ฟ ๐๐ต๐ฒ ๐ฆ๐ฐ๐ฎ๐ป๐ป๐ฒ๐ฟ ๐ถ๐ป ๐๐ป๐ฑ๐ถ๐ฎ
You thought your crypto trades were under the radar? Think again.
The Income Tax Department just sent 44,057 notices to individuals who failed to report CRYPTO activity in their FY25 ITRs.
Itโs part of CBDTโs aggressive NUDGE campaign, a clear message:
Theyโre watching.
Hereโs what is unfolding:
โข โน705 Cr already collected in VDA taxes (FY23โFY24)
โข โน630 Cr in unreported crypto income caught via raids & surveys
โข 30% tax + surcharge & cess on profits
โข 1% TDS on every single trade
โข Mandatory VDA disclosure in ITR-2 & ITR-3
Funny how crypto was once โriskyโ and โunregulatedโโฆ
Until the government realized it could be taxed.
๐๐ฅ๐ฌ๐ฃ๐ง๐ข: ๐ฏ๐ฎ๐ฑ ๐ณ๐ผ๐ฟ ๐ถ๐ป๐๐ฒ๐๐๐ผ๐ฟ๐, ๐ด๐ฟ๐ฒ๐ฎ๐ ๐ณ๐ผ๐ฟ ๐ด๐ผ๐๐ฒ๐ฟ๐ป๐บ๐ฒ๐ป๐ ๐ฟ๐ฒ๐๐ฒ๐ป๐๐ฒ.