According to Economic Times, India’s 2026 fiscal year crypto tax reporting season imposes higher compliance requirements on investors. The article states that profits from Indian virtual digital assets (VDA) are still taxed at a 30% rate, with a 1% withholding tax (TDS) applied to related transfers, and investors are required to report transactions, exchanges, and disposals item by item in Schedule VDA. Budget 2026 also mandates that crypto exchanges, custodians, and wallet providers submit user-level transaction reports to the Indian Income Tax Department, with the tax system automatically cross-verifying these reports with investor declarations. The report says that the Indian tax authorities have issued over 44k notices and have identified more than 8.88 billion rupees (approximately $104 million) in undisclosed VDA income.