In an official statement released by India’s Finance Ministry, Minister Pankaj Chaudhary stated that the department has taken measures against crypto traders found non-compliant. These measures include reassessment notices and seizure operations under the Income Tax Act, 1961. This major development signals a stricter approach to tax compliance in India’s digital asset space.
Notably, the Central Board of Direct Taxes (CBDT) has launched a targeted awareness initiative under its NUDGE campaign. The program intends to boost voluntary compliance within crypto traders by sending 44,057 emails and messages to individuals who traded or invested in Virtual Digital Assets (VDAs) without reporting them in their ITRs.
