Sooo apparently… the taxman is already inside your wallet.
Indian Income Tax has started sending Section 133(6) notices for AY 2024–25 and the scary part is they’re listing your crypto income upfront and asking you to explain it.
That means: • they already have exchange data • PAN is matched with AIS/TIS • trades, winnings, VDA receipts; everything
If you traded and didn’t report, expect questions, penalties, maybe interest. With 30% tax, no loss setoff, and 1% TDS, India basically made frequent trading mid.
Privacy? Yeah… that line was crossed a while ago.
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Sooo apparently… the taxman is already inside your wallet.
Indian Income Tax has started sending Section 133(6) notices for AY 2024–25 and the scary part is they’re listing your crypto income upfront and asking you to explain it.
That means:
• they already have exchange data
• PAN is matched with AIS/TIS
• trades, winnings, VDA receipts; everything
If you traded and didn’t report, expect questions, penalties, maybe interest. With 30% tax, no loss setoff, and 1% TDS, India basically made frequent trading mid.
Privacy? Yeah… that line was crossed a while ago.