Tax Department issues notices to Crypto Investors

Indian Tax Department issue notice

The Indian Tax department had issued notices to the cryptocurrency investors after observing that cryptocurrency transactions amounting more than $3.5 billion had taken place in a 17 month period. It was observed that investment in cryptos was not appearing on the tax returns of the investors. The notice commanded the investors to comply with the tax obligations and emphasized to provide information about their holdings and the source of funds.

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