Income Tax Department notifies Indian crypto traders about undisclosed trades
Business
If you've traded crypto in India and didn't report everything, heads up: the Income Tax Department is now sending notices to investors about undisclosed past transactions.
They're matching what you reported with actual exchange data, and if there's a mismatch, you get a chance to come clean before things get serious.
Tax officials spot filing mismatches
Tax officials are using advanced technology like the Insight Portal and CRIU risk engine to spot gaps between your tax filings and your real crypto activity.
If you ignore these notices or can't explain the differences, penalties could follow.
Bottom line: keep good records, and be transparent about your crypto moves, because authorities are watching more closely than ever.