The Union Budget 2025-26 did not introduce any significant relief for cryptocurrency investors, maintaining the 30 per cent tax on crypto gains and the 1 per cent TDS on transactions. However, Finance Minister Nirmala Sitharaman proposed an amendment to the Income Tax Act, mandating that a designated reporting entity disclose transaction details related to virtual digital assets (VDAs).
“It is proposed to bring amendment in the Income Tax Act to provide for that a prescribed reporting entity in respect of a crypto-asset shall furnish information in respect of a transaction in such crypto asset, in a statement as prescribed. It is also proposed to align the definition of virtual digital asset accordingly,” the Budget document reads.
No changes in crypto tax
The budget did not make any changes to the 30 per cent tax on crypto income or the 1 per cent TDS on crypto transactions, which were implemented in July 2022.
Additionally, the…
