India has launched an aggressive enforcement drive against unreported cryptocurrency activity, issuing over 44,000 tax notices to individuals who bought and sold digital assets but did not disclose their gains in Income Tax Returns.
According to government statements in Parliament, data comparisons and recent searches have exposed ₹888.82 crore in unreported crypto income. Authorities uncovered these gaps by matching trading data, TDS submissions from exchanges, and internal analytics under Project Insight with individual tax filings.
Officials highlighted that while India still lacks a dedicated cryptocurrency law, monitoring mechanisms are firmly in place. Because digital assets operate across borders, the government stressed the need for international collaboration to develop effective regulations and a unified taxonomy.
The latest enforcement wave signals that unreported crypto activity will no longer go unnoticed. Thousands of notices have now been dispatched, ensuring traders who profited from crypto are held accountable as compliance expectations rise across the sector.
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