{"id":70755,"date":"2026-04-07T03:53:44","date_gmt":"2026-04-07T03:53:44","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/india-chasing-crypto-traders-over-past-filings\/"},"modified":"2026-04-07T03:53:44","modified_gmt":"2026-04-07T03:53:44","slug":"india-chasing-crypto-traders-over-past-filings","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/india-chasing-crypto-traders-over-past-filings\/","title":{"rendered":"India Chasing Crypto Traders Over Past Filings"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p>India is going back to older crypto activity, and some traders are learning that raw trading volume can suddenly look like taxable income. The current focus appears to be FY 2021 to 2022, where tax authorities are reopening questions around reporting gaps and asking taxpayers to explain the difference.<\/p>\n<hr\/>\n<p><em><strong>Good to Know<\/strong><\/em><\/p>\n<ul>\n<li><em><strong>Section 148A notices are not final tax bills. They are early reassessment notices.<\/strong><\/em><\/li>\n<li><em><strong>Koinx said many of the latest notices relate to FY 2021\u201322 crypto transactions.<\/strong><\/em><\/li>\n<li><em><strong>In India, gains from virtual digital assets are taxed at 30%, and a 1% TDS rule applies to many transfers.<\/strong><\/em><\/li>\n<\/ul>\n<hr\/>\n<h2>Why Some Traders Are Seeing Huge Numbers<\/h2>\n<p>For many traders, the problem is not profit first. It is paperwork first. India tax systems can flag a number that looks massive because they may read total crypto movement as income before the trader shows the full transaction trail.<\/p>\n<p>Koinx said: <em>\u201c148A notices are now being issued to crypto investors in India.\u201d<\/em> It also said:<em> \u201cMany relate to FY 2021\u201322 transactions,\u201d<\/em> and added: <em>\u201cThis number is often NOT your actual profit. It\u2019s just what the system thinks is income \u2026 Until you prove otherwise.\u201d<\/em><\/p>\n<p>That is where fragmented trading creates trouble. A user may buy on one exchange, shift assets through a wallet, send them to another platform, and cash out somewhere else. If only part of that path is visible, the tax picture can look inflated. Koinx said the Income Tax Department uses tools such as the Insight Portal and CRIU systems to compare PAN-linked KYC data, exchange activity, bank transfers, and filed returns. When those records do not line up, a Section 148A notice can follow.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong><strong>Get 125% \/ $2,500 on 1st deposit!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of up to $2,500<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>A simple example shows the gap. Koinx described a case where yearly crypto volume reaches \u20b91.6 crore, while actual profit after losses and costs is only around \u20b94 lakh to \u20b95 lakh. Until the trader proves the full chain, the system may treat the larger figure as income.<\/p>\n<p>Koinx also tried to slow the panic. It said:<\/p>\n<p><em>\u201cA 148A notice is not a tax demand yet. It\u2019s a show-cause notice. Meaning the department is asking: \u2018Explain why we should not reopen your assessment.\u2019 Your response determines what happens next.\u201d<\/em><\/p>\n<p>Later, it added:<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\"> <strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong> <\/p>\n<p>New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><em> \u201cIf you receive this notice, do NOT panic.\u201d And one more line sums up the practical point: \u201cMost notices can be resolved if your data is correct.\u201d<\/em><\/p>\n<p>The wider backdrop is already strict. India taxes income from transfer of virtual digital assets at 30%, blocks most deductions except acquisition cost, and applies 1% TDS on many transfers. Reuters reported in February that officials were actively monitoring crypto trading patterns to improve tax compliance. So older records, wallet histories, and exchange exports now matter much more than many traders expected.<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/india-reopens-old-crypto-tax-gaps\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) India is going back to older crypto activity, and some traders are learning that raw trading volume can suddenly look like taxable income. The current focus appears to be FY 2021 to 2022, where tax authorities are reopening questions around reporting gaps and asking taxpayers to [&hellip;]<\/p>\n","protected":false},"author":44,"featured_media":70756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/70755"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=70755"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/70755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/70756"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=70755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=70755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=70755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}