The Income Tax Department, aligning with the RBI, has labeled crypto as "High-Risk" and opposed its large-scale use
√ Risk of tax evasion and illegal funding due to anonymous transactions.
√ Difficulty in collecting tax dues because of private wallets.
√ This strict stance by the I-T Dept and RBI ahead of Budget 2026 hints at new, tougher rules.
Regulation is tightening. India's top tax authority officially joins the RBI in flagging crypto's systemic risks!
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🚨 INDIA CRYPTO: I-T DEPT FLAGS RISKS!
The Income Tax Department, aligning with the RBI, has labeled crypto as "High-Risk" and opposed its large-scale use
√ Risk of tax evasion and illegal funding due to anonymous transactions.
√ Difficulty in collecting tax dues because of private wallets.
√ This strict stance by the I-T Dept and RBI ahead of Budget 2026 hints at new, tougher rules.
Regulation is tightening. India's top tax authority officially joins the RBI in flagging crypto's systemic risks!