CBDT Probes Alleged Tax Evasion Through Crypto Investments

The Central Board Of Direct Taxes found that some investors have violated the Income Tax Act by not declaring income gains on virtual digital assets

The direct tax authority has sent mails to thousands of taxpayers to recheck and update their income gains on crypto assets

According to Section 115BBH of Income Tax Act, 1961 inserted by the Finance Act, 2022, gains or income on VDA transactions are taxed at a flat 30% rate

The Central Board of Direct Taxes (CBDT) is…