India’s income tax authorities are reportedly increasing their compliance focus on digital assets. Punit Agarwal, founder of KoinX, addressed the rise in income tax queries related to cryptocurrency transactions in a post on X. The company also advises taxpayers to file revised returns for crypto income if they were not accurately filed initially, warning that high-value crypto transactions could attract penalties. What is India’s crypto stance? Also Read: India Crypto Bill: India May Have Its Crypto Or Web3 Bill By 2025: MP Jayant SinhaThe post India’s Income Tax Alerts Point at Rising Crypto Scrutiny; Here’s What To Do appeared first on CoinGape.

Source: The Nation December 26, 2023 20:32 UTC