India’s Income Tax Department has sent more than 44,000 notices linked to virtual digital asset holdings after identifying over ₹888 crore ($104 million) in undisclosed crypto income. Authorities now require exchanges, custodians, and wallet providers to submit user-level transaction data for automated checks against tax filings. The move strengthens enforcement of rules requiring every crypto trade, swap, and disposal to be reported under Schedule VDA. Investors may face increased scrutiny as authorities continue matching transaction records with reported income.
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