India Launches Nationwide Crackdown on Crypto Tax Evasion

India’s Income Tax Department has opened a nationwide probe into undisclosed cryptocurrency ￰0￱ 400 traders are reportedly under review for shifting profits offshore to avoid the 30% tax on digital assets and the 1% transaction ￰1￱ Enforcement Push Regional offices have been ordered to submit findings this ￰2￱ say many users relied on foreign exchanges or stablecoins to hide ￰3￱ are now cross-checking blockchain activity, remittance data, and bank records to trace undeclared ￰4￱ and Data Access Those caught evading taxes could face fines of up to 42% of hidden income and possible prosecution. Binance, now registered with India’s Financial Intelligence Unit, is sharing transaction data to help identify offshore accounts linked to Indian ￰5￱ Direction The campaign signals India’s effort to bring crypto fully under its tax ￰6￱ combining exchange data with stricter audits, authorities aim to close loopholes and enforce equal treatment between digital and traditional assets.