Indian Cryptocurrency Holders May Face Up to 70% Tax Penalty for Undisclosed Income

BlockBeats News, February 2nd, according to Cointelegraph, Indian Finance Minister Nirmala Sitharaman announced in the 2025 Union Budget that cryptocurrency will be incorporated into Section 158B of the Income Tax Act for reporting undisclosed income.

This amendment allows for a collective assessment of undisclosed cryptocurrency gains, giving them the same tax treatment as traditional assets like currency, jewelry, and gold bars. Indian authorities may impose up to a 70% tax penalty on previously undisclosed cryptocurrency profits.