India Tightens Global Tax Reporting Rules, Bringing Crypto Holdings Under Greater Scrutiny
- CBDT brings crypto assets under India’s global tax reporting framework.
- Crypto exchanges must report user transactions under OECD CARF reporting rules.
- New rules strengthen tax transparency for cross-border crypto asset reporting.
India is taking another step toward integrating crypto into its tax reporting system, this time by aligning its rules with a global framework designed to track digital assets across borders.
The Central Board of Direct Taxes (CBDT) has updated India’s global tax reporting framework to explicitly cover crypto-assets, central bank digital currencies (CBDCs), and certain digital money products.
The changes bring the country’s reporting standards closer to the OECD’s Crypto-Asset Reporting Framework (CARF), which aims to make cross-border crypto transactions more transparent and harder to use for tax evasion.
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