🇮🇳BREAKING: India's Income Tax Department has issued more than 44,000 notices tied to virtual digital asset holdings and identified over Rs 888 crore in undisclosed crypto income, equivalent to roughly $104 million.

The crackdown comes as exchanges, custodians and wallet providers are now required to submit user-level transaction data directly to the department for automated cross-checking against investor filings.
Every trade, swap and disposal must be reported individually under Schedule VDA. Crypto gains remain taxed at a flat 30%, with eligible transfers subject to a 1% tax deducted at source.
The scale of undisclosed income found suggests a significant portion of Indian crypto investors have been underreporting gains, knowingly or not, and the automated matching system is now making that far harder to conceal.