Indian cryptocurrency holders may face tax penalties of up to 70% for undisclosed gains - ChainCatcher
ChainCatcher news, according to Cointelegraph, Indian Finance Minister Nirmala Sitharaman stated in the 2025 federal budget announcement that cryptocurrencies will be included under Section 158B of the Income Tax Act for reporting undisclosed income.The amendment allows for a collective assessment of unreported cryptocurrency gains, treating them the same as traditional assets such as currency, jewelry, and gold bars for tax purposes. Indian authorities may impose tax penalties of up to 70% on previously undisclosed cryptocurrency profits.
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