{"id":989322,"date":"2026-02-02T11:18:51","date_gmt":"2026-02-02T05:48:51","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=989322"},"modified":"2026-02-02T11:18:51","modified_gmt":"2026-02-02T05:48:51","slug":"fail-to-report-crypto-assets-correct-mistakes-or-furnish-inaccurate-particulars-heres-how-much-penalty-you-may-pay","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2026\/02\/02\/fail-to-report-crypto-assets-correct-mistakes-or-furnish-inaccurate-particulars-heres-how-much-penalty-you-may-pay\/","title":{"rendered":"Fail to report crypto assets, correct mistakes or furnish inaccurate particulars? Here&#8217;s how much penalty you may pay"},"content":{"rendered":"<p>Union Budget 2026: Finance Minister Nirmala Sitharaman has proposed penalty provision for non-compliance in reporting of cryptocurrency assets in line with the new Income-Tax (I-T) Act scheduled to come into effect from 1 April.<\/p>\n<p>During her Budget speech, she noted, \u201cTo ensure compliance with the provisions of Section 509 of the Income-tax Act, 2025 and create a deterrence for non-furnishing of statement or for furnishing inaccurate information in respect of crypto assets in such statement, it is proposed to introduce a penalty provision.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Union Budget 2026: Finance Minister Nirmala Sitharaman has proposed penalty provision for non-compliance in reporting of cryptocurrency assets in line with the new Income-Tax (I-T) Act scheduled to come into effect from 1 April. During her Budget speech, she noted, \u201cTo ensure compliance with the provisions of Section 509 of the Income-tax Act, 2025 and create a deterrence for non-furnishing of statement or for furnishing inaccurate information in respect of crypto assets in such statement, it is proposed to introduce a penalty provision.\u201d<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[55,13,4],"tags":[],"class_list":["post-989322","post","type-post","status-publish","format-standard","hentry","category-it-2-live-mint","category-live-mint","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/989322","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=989322"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/989322\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=989322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=989322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=989322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}