Explained: CBDT targets unaccounted income invested in crypto

June 14, 2025

, By The Economic Times

Share via:

The Central Board of Direct Taxes (CBDT) is investigating tax evasion and the laundering of undeclared money by high-risk individuals who have invested in cryptocurrency or virtual digital assets (VDAs).

Why is the tax body doing this?

The main reason is to curb tax evasion and the laundering of unaccounted funds. Sources told PTI that the CBDT has identified some “high-risk persons” who are putting money in VDAs but have not complied with the Income Tax Act.Data reviewed by the I-T department showed violations such as not filing the mandatory Schedule…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Previous News

AirTag helps London couple recover stolen car

Next News

No Entry For Ola, Uber In Goa: Pramod Sawant

The Economic Times

Popular

More Like this

Explained: CBDT targets unaccounted income invested in crypto

June 14, 2025

, Published By The Economic Times

The Central Board of Direct Taxes (CBDT) is investigating tax evasion and the laundering of undeclared money by high-risk individuals who have invested in cryptocurrency or virtual digital assets (VDAs).

Why is the tax body doing this?

The main reason is to curb tax evasion and the laundering of unaccounted funds. Sources told PTI that the CBDT has identified some “high-risk persons” who are putting money in VDAs but have not complied with the Income Tax Act.Data reviewed by the I-T department showed violations such as not filing the mandatory Schedule…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

Previous News

AirTag helps London couple recover stolen car

Next News

No Entry For Ola, Uber In Goa: Pramod Sawant

The Economic Times

More like this

Popular

Upcoming Events