Indian tax authorities have highlighted significant risks associated with virtual digital assets like crypto, echoing the Reserve Bank of India's concerns. The anonymous and borderless nature of these assets, coupled with offshore platforms, makes tracking taxable income and beneficial owners extremely difficult. Jurisdictional challenges further complicate tax recovery, prompting authorities to implement safeguards like TDS and mandatory registration.
Indian tax authorities have highlighted significant risks associated with virtual digital assets like crypto, echoing the Reserve Bank of India's concerns. The anonymous and borderless nature of these assets, coupled with offshore platforms, makes tracking taxable income and beneficial owners extremely difficult. Jurisdictional challenges further complicate tax recovery, prompting authorities to implement safeguards like TDS and mandatory registration.
Indian tax authorities have highlighted significant risks associated with virtual digital assets like crypto, echoing the Reserve Bank of India's concerns. The anonymous and borderless nature of these assets, coupled with offshore platforms, makes tracking taxable income and beneficial owners extremely difficult. Jurisdictional challenges further complicate tax recovery, prompting authorities to implement safeguards like TDS and mandatory registration. 
