TechFlow news — On February 2, according to Cointelegraph, India's Finance Minister Nirmala Sitharaman stated in the 2025 federal budget announcement that cryptocurrencies will be included under Section 158B of the Income Tax Act as undisclosed income.
The amendment allows consolidated assessment of unreported cryptocurrency gains, placing them on par with traditional assets such as cash, jewelry, and gold bars for tax purposes. Indian authorities may impose tax penalties of up to 70% on previously undisclosed cryptocurrency profits.
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