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.
