Didn’t report your crypto earnings? Income tax dept sending tax notices, conducting search & seizure for undisclosed income; know your options

The Income Tax Department is contacting taxpayers about cryptocurrency taxes. Many individuals did not report crypto transactions correctly. The department is using data from exchanges and TDS returns to find discrepancies. Notices are going out to those who under-reported or failed to disclose crypto income. Read below to know what are these notices and how to tackle them.

from Tax-Wealth-Economic Times https://ift.tt/a5dOtKe