Key Takeaways

• The Indian Income Tax Department is sending Section 148A notices to people who traded crypto in FY 2021-22.

• These notices come because the government has data from banks and exchanges showing your trading activity.

• Many traders are getting notices even if they made little profit, as the department looks at total buying and selling amounts.

India’s Income Tax Department is turning up the heat on crypto traders, issuing fresh tax notices tied to transactions from the 2021–22 financial year.

The notices, sent under Section 148A of the Income Tax Act, are already stirring concern across the country’s crypto community.

India’s Income Tax Department is now targeting past crypto activity, with many…