Key Takeaways:

• India is issuing Section 148A notices that can reopen past crypto filings for review.
• Systems may flag estimated income that does not reflect actual profits, increasing exposure.
• Data mismatches across exchanges and tax filings can escalate scrutiny and potential penalties.

India Crypto Tax Notices Target Past Reporting Gaps

Indian tax authorities are stepping up enforcement efforts targeting cryptocurrency transactions, especially those from earlier financial years now under review. Section 148A notices are reportedly being issued to taxpayers where discrepancies in reported income are flagged through advanced data-matching systems. These notices act as preliminary reassessment triggers, giving individuals an…