India introduces July 1 tax information rules, mandates 15-day responses
India just rolled out new rules for exchanging tax information with foreign authorities, kicking in from July 1.
Now, any request from another country is marked "high priority," and the Income Tax Department must share available information within 15 days, or submit an interim report within 15 days if full information isn't ready.
The goal? To crack down on cross-border tax evasion and speed up case resolutions.
Interim reports, monthly tracking, crypto data
If the department can't get all the details in time, they'll send an interim report explaining what's done and what's left.
There's also tighter tracking of India's own outgoing requests, with monthly reports to keep things moving.
Plus, starting April 2027, India will begin sharing data on cryptocurrencies and digital assets under global standards, so crypto isn't flying under the radar anymore.