India Issues Over 44,000 VDA Tax Notices, Finds $104M in Undisclosed Income
According to The Economic Times, India's 2026 crypto tax season is seeing stricter enforcement. Virtual digital asset (VDA) gains remain taxed at 30%, while eligible transfers are subject to a 1% tax deducted at source (TDS). Investors must report each trade, swap and disposal under Schedule VDA.
The report said exchanges, custodians and wallet providers are now required to submit user-level transaction data to India's Income Tax Department for automated cross-checking against investor filings. The department has issued more than 44,000 VDA-related notices and identified over Rs 888 crore ($104 million) in undisclosed VDA income.