In many cases, individuals either skipped the mandatory Schedule VDA in their income tax returns or wrongly claimed deductions and preferential tax rates, violating key provisions under the Income Tax Act, 1961.

India’s top tax authority is turning up the heat on crypto evaders. The Central Board of Direct Taxes (CBDT) has launched a sweeping crackdown on individuals and entities suspected of laundering unaccounted income and evading taxes through undisclosed or underreported cryptocurrency transactions....

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Via businesstoday.in