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India Sends 44,000+ VDA Tax Notices, Flags $104M in Unreported Income: The Economic Times

India's 2026 crypto tax season is unfolding under tighter scrutiny, The Economic Times reported. Gains on virtual digital assets (VDAs) continue to be taxed at 30%, with a 1% tax deducted at source (TDS) applying to eligible transfers. Investors are required to report every trade, swap and disposal under Schedule VDA. The report said crypto exchanges, custodians and wallet providers must now provide user-level transaction data to the Income Tax Department, enabling automated cross-checks against investor filings. Authorities have issued more than 44,000 notices linked to VDA activity and have identified over Rs 888 crore ($104 million) in undisclosed VDA income.
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