If you hide the earnings for cryptocurrency, it will be expensive! Emails are sent to people

If you hide the earnings for cryptocurrency, it will be expensive! Emails sent to the people last updated: June 13, 2025, 23:52 IST income tax division warned thousands of people by sending emails, which made transactions in cryptocurrency, but hid the earnings. Income Tax Division warns the income tax division on the crypto earnings of the income tax division on investment in crypto. Emails were sent for not showing Crypto earnings in ITR. 30% tax, surcharge and Cess applied to Crypto earnings. New -delhi. If you earned from cryptocurrency, but did not show it in your Income Tax Return (ITR), be attentive now. Cryptocurrency earnings are now investigating the income tax division. The Income Tax Division sent emails to thousands of people who made transactions in crypto currency but did not explain the income from it. Official sources said on Friday that these transactions were related to the assessment year 2023-24 and 2024-25. The Central Council of Direct Tax (CBDT) is believed to be involved in tax evasion and money laundering in some of those with a ‘high risk’, who use ‘incompatible’ earnings to invest in virusual digital assets (VDA), ie cryptocurrency. Appeal sources for the submission of updated ITRS told PTI that the Income Tax Division sent emails to thousands of depositors and asked them to submit updated ITRs, which did not announce the earnings due to crypto transactions or misinformed them. According to Article 115 BBH of tax revenue tax at a rate of 30 percent, in addition to tax at a rate of 30 percent on the earnings from Crypto transactions, surcharge and CESS are also charged. This does not allow any deduction of expenses except for the purchase cost of provision. In addition, the damage caused by crypto investment or trade may not be taken in exchange for any other income or in later years. According to the schedule VDA sources that did not submit people, the analysis of the data showed that a large number of people violated the provisions of the Income Tax Act by paying taxes at a low rate by not submitting the ITR schedule VDA and claiming the cost indexing at a low rate. Verification with TDS details of VASPs has issued that the ITR filed by the taxpayers is verified by the department with different viral asset service providers, ie cryptocurrency Exchange (TASPS) with TDS details and for the defaulters for the defaulters. Can be selected. Over the past five years, author Vinoy Jha has been working as a senior copy editor in News18hindi after starting his career with print media. Business News Team has been part of the team for almost 2 years. He has a decade of experience in journalism. … Read more, after the past five years have started a career with print media, there is a senior copy editor in News18hindi. Business News Team has been part of the team for almost 2 years. He has a decade of experience in journalism. … Read more location: New -delhi, Delhi Homebusiness will hide the earnings for cryptocurrency, it will be expensive! Emails are sent to people