Crypto transaction details must

BENGALURU: Virtual digital assets (VDAs) such as crypto will be included in defining undisclosed income. This means transaction details should be furnished mandatorily.

Finance minister Nirmala Sitharaman proposed amendments in provisions of Block assessment for search and requisition cases.

“It is proposed to add the term virtual digital asset to the said definition of undisclosed income of the block period. The time-limit for completion of block assessment is proposed to be made as twelve months from end of the quarter in which the last of the authorisations for search or requisition has been executed,” she said.