Unaccounted income from crypto under tax dept’s scrutiny

Unaccounted income by high-risk persons through investment in crypto currency is under government scrutiny. The tax department sources have said that it is probing evasion and laundering via crypto currencies during assessment years 2023-24 and 2024-25.

It is learnt from reliable sources that the tax department has recently sent e-mails to thousands of defaulting persons to review their income tax returns and update if any income on account of Virtual Digital Asset (VDA) transactions have not been properly declared.