India Issues Crypto Tax Notices to Thousands, Seizes $327K in Crackdown

India’s Income Tax Department has escalated enforcement actions against cryptocurrency tax evaders. They issued notices to thousands of individuals who failed to report digital asset income in their tax filings for financial years 2022-23 and 2023-24. The crackdown utilizes enhanced data-sharing mechanisms between digital asset exchanges and government authorities, enabling real-time transaction monitoring and cross-referencing.  […] The post India Issues Crypto Tax Notices to Thousands, Seizes $327K in Crackdown appeared first on Coin Edition.