Overview

• Officials uncovered about ₹630 crore in unreported virtual digital asset income through targeted search, seizure and survey operations over two fiscal years.
• Voluntary disclosures by taxpayers contributed ₹705 crore in VDA taxes for FY 2022-23 and FY 2023-24.
• The NUDGE campaign has dispatched 44,057 tailored messages to investors who traded in VDAs but omitted the transactions from their income tax returns.
• Data analytics platforms such as the Non-Filer Monitoring System and Project Insight now integrate VASP TDS returns with ITR data to flag reporting discrepancies.
• A flat 30% tax on VDA transfers was introduced under section 115BBH of the Income Tax Act in FY 2022-23 to formalize cryptocurrency taxation.