CBDT issues crypto-asset reporting guidance for India

CBDT crypto-asset reporting tax transparency Income-tax Act 2025 CARF

The Central Board of Direct Taxes (CBDT) has issued a guidance note regarding reporting obligations for crypto-asset service providers (RCASPs) under the Income-tax Act, 2025. This framework is designed to align with the OECD’s Crypto-Asset Reporting Framework (CARF) to enhance tax transparency for digital transactions.

The guidance clarifies the definitions of crypto-assets and specifies the compliance requirements for intermediaries, including crypto exchanges, brokers, and dealers. By implementing these rules under Section 509 of the Income-tax Act, 2025, and associated rules, the framework aims to address the challenges of tracking cross-border transactions that occur outside traditional banking systems.

Entities

Central Board of Direct Taxes · OECD

Sources

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