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Indian Crypto Traders Warned: 44,000 Missed Tax Filings Alert Sent
Indian Crypto Traders Warned: 44,000 Missed Tax Filings Alert Sent
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BTCCSquare news:
India's Income Tax Department has escalated its crackdown on cryptocurrency tax evasion, dispatching 44,057 compliance notices to traders who neglected to report digital asset transactions. The campaign leverages advanced data analytics to identify unreported crypto income, reflecting heightened regulatory scrutiny of the asset class.
Authorities warn that failure to amend tax filings promptly may trigger audits, financial penalties, or legal action. The mass notification signals India's hardening stance on digital asset taxation as authorities seek to close reporting gaps in the rapidly growing crypto sector.
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