India Issues Over 44,000 VDA Tax Notices, Finds $104M in Undisclosed Income

According to The Economic Times, India's 2026 crypto tax season is seeing stricter enforcement. Virtual digital asset (VDA) gains remain taxed at 30%, while eligible transfers are subject to a 1% tax deducted at source (TDS). Investors must report each trade, swap and disposal under Schedule VDA.

The report said exchanges, custodians and wallet providers are now required to submit user-level transaction data to India's Income Tax Department for automated cross-checking against investor filings. The department has issued more than 44,000 VDA-related notices and identified over Rs 888 crore ($104 million) in undisclosed VDA income.

via x.com/WuBlockchain

44,000 notices and $104M found just from cross-checking exchange data, which means people really thought "the government can't see my Binance account" was a sustainable strategy in 2025. the automated matching is going to keep printing these forever now that the pipes are connected.

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