You thought your crypto trades were under the radar? Think again.
The Income Tax Department just sent 44,057 notices to individuals who failed to report CRYPTO activity in their FY25 ITRs.
Itās part of CBDTās aggressive NUDGE campaign, a clear message: Theyāre watching.
Hereās what is unfolding: ⢠ā¹705 Cr already collected in VDA taxes (FY23āFY24) ⢠ā¹630 Cr in unreported crypto income caught via raids & surveys ⢠30% tax + surcharge & cess on profits ⢠1% TDS on every single trade ⢠Mandatory VDA disclosure in ITR-2 & ITR-3
Funny how crypto was once āriskyā and āunregulatedā⦠Until the government realized it could be taxed.
š„ Aapki sabse badi crypto galti kya rahi? Chalo main shuru karta hoonā¦
Crypto market ne sabko kuch na kuch sikhaya hai ā kabhi profits diye, to kabhi regrets.
Meri sabse badi crypto regret? 2022-23 me mere ek dost ne bola tha ā "Bhai $SOL le lo, sasta mil raha hai, $3 par hai." Maine ignore kar diya. Socha ā āaur ek average project hoga.ā
Phir kuch mahine me hi $SOL $200+ chala gaya šµ Aur main sirf apna sir pakad ke baitha raha.
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