Income tax collections from cryptocurrencies jump to Rs 437.43 crore in FY24

Income tax collected from cryptocurrencies or Virtual Digital Asset (VDA) transactions was recorded at Rs 437.43 crore in FY24. This is a significant jump from Rs 269.09 crore collected in FY23, the first year the VDA tax was introduced under Section 115BBH of the Income Tax Act. Data for FY25 is not yet available as the deadline for filing income tax returns is still pending.