List of Flash News about India VDA compliance
| Time | Details |
|---|---|
| 10:04 |
India Crypto Crackdown: ED Freezes INR 4,189.89 Crore in VDA Assets; CBDT Finds INR 888.82 Crore Undisclosed Income and Issues 44,057 Notices
According to @simplykashif, India’s Enforcement Directorate has attached or frozen crypto assets worth INR 4,189.89 crore, arrested 29 individuals, filed 22 chargesheets, and named one person a fugitive, based on a written reply by Minister of State for Finance Pankaj Chaudhary in the Lok Sabha; source: @simplykashif. CBDT detected INR 888.82 crore of undisclosed income from virtual digital asset transactions; source: @simplykashif. CBDT has issued 44,057 notices to taxpayers who traded or invested in VDAs but did not report them in Schedule VDA of their income tax returns; source: @simplykashif. For traders, these official figures signal heightened enforcement and tax compliance scrutiny around VDA activity in India, increasing headline and compliance risk for India-based crypto trading and on-ramp or off-ramp flows; source: @simplykashif. |