{"id":368388,"date":"2026-07-28T15:19:08","date_gmt":"2026-07-28T09:49:08","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=368388"},"modified":"2026-07-28T16:08:15","modified_gmt":"2026-07-28T10:38:15","slug":"cbdts-crypto-asset-reporting-guidance","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/cbdts-crypto-asset-reporting-guidance\/","title":{"rendered":"CBDT&#8217;s Crypto-Asset Reporting Guidance\u00a0"},"content":{"rendered":"<div class=\"content-box-green\">\n<p><b>News<\/b><span style=\"font-weight: 400;\">: The Central Board of Direct Taxes has released a guidance note on crypto-asset reporting obligations, aligning India\u2019s tax reporting framework with the OECD framework.<\/span><\/p>\n<\/div>\n<h2 class=\"red-h2-box\"><b>About CBDT&#8217;s Crypto-Asset Reporting Guidance\u00a0<\/b><\/h2>\n<figure style=\"width: 380px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/www.livemint.com\/lm-img\/img\/2026\/07\/27\/382x214\/crypto_repting_1785165674368_1785165701868_fdfd4fcb-6dac-43ff-a6a4-2b7e31e5b60b.png?resize=380%2C214&#038;ssl=1\" alt=\"CBDT's Crypto-Asset Reporting Guidance\" width=\"380\" height=\"214\" \/><figcaption class=\"wp-caption-text\">Source: Mint<\/figcaption><\/figure>\n<ul>\n<li><strong>Definition of crypto as per Indian law:<\/strong>\n<ul>\n<li>India\u2019s income tax law <strong>defines a \u201ccrypto-asset\u201d\u00a0 as a digital representation of value <\/strong>that relies on a cryptographically secured distributed ledger or a similar technology to validate and secure transactions.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Definition of crypto as per OECD Crypto-Asset Reporting Framework (CARF)<\/strong>:\n<ul>\n<li>The CARF defines \u201cCrypto-Assets\u201d as \u201ca digital representation of value that relies on a cryptographically secured distributed ledger or a similar technology <strong>to validate and secure transactions&#8221;, which includes cryptocurrencies, as well as cryptography based tokens. <\/strong><\/li>\n<\/ul>\n<\/li>\n<li><strong>About CBDT&#8217;s Crypto-Asset Reporting Guidance:<\/strong>\n<ul>\n<li><strong>Issued by:<\/strong> The guidance has been issued by <b><a href=\"https:\/\/forumias.com\/blog\/documentation-identification-numberdin\/\">Central Board of Direct Taxes (CBDT).\u00a0<\/a><\/b><b><\/b><\/li>\n<li><b>Aligned with: <\/b><span style=\"font-weight: 400;\">It aligns <\/span><b>India&#8217;s reporting framework with the OECD&#8217;s Crypto-Asset Reporting Framework (CARF).<\/b><\/li>\n<li><b>Aim: <\/b><span style=\"font-weight: 400;\">It is issued <\/span><b>to help Reporting Crypto-Asset Service Providers <\/b><span style=\"font-weight: 400;\">(RCASPs) comply with <strong>Section 509 of the Income-tax Act, 2025, Rules 241\u2013244, and Form 167 of the Income-tax Rules, 2026.<\/strong><\/span><\/li>\n<li><strong>Implications for taxpayers and crypto exchanges:<\/strong>\n<ul>\n<li>It provides practical guidance to<strong> RCASPs on their obligations under the Income-tax Act and Rules, with detailed FAQs addressing the key facets of implementation<\/strong>, including scope, due diligence, reportable users, reporting requirements, filing process and penalties.<\/li>\n<li><span style=\"font-weight: 400;\">The guidance<strong> does not require taxpayers to make any additional filings with the Income-tax Department.<\/strong><\/span><\/li>\n<\/ul>\n<\/li>\n<li><span style=\"font-weight: 400;\">The <\/span><b>guidance clarifies that if there is any inconsistency between the Guidance Note\/FAQs and the Income-tax Act or Rule<\/b><span style=\"font-weight: 400;\">s, the statutory provisions of the Act and Rules will prevail.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<h2 class=\"red-h2-box\"><b>About OECD&#8217;s Crypto-Asset Reporting Framework (CARF)<\/b><\/h2>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"><strong>About<\/strong>: It is a framework developed <\/span><b>to extend global tax transparency standards to crypto-assets.<\/b><\/li>\n<li style=\"font-weight: 400;\"><b>Developed b<\/b><span style=\"font-weight: 400;\"><strong>y:<\/strong> It was developed jointly by participating jurisdictions, including India, working with the<\/span><b><a href=\"https:\/\/forumias.com\/blog\/oecd\/\"> Organisation for Economic Co-operation and Development (OECD)<\/a>.<\/b><\/li>\n<li style=\"font-weight: 400;\"><b>Objective<\/b><span style=\"font-weight: 400;\">: Its objective is<\/span><b> to ensure annual reporting of tax-relevant information relating to specified crypto-asset activities.<\/b><\/li>\n<li style=\"font-weight: 400;\"><strong>Features:<\/strong>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It <\/span><b>builds upon existing international information exchange frameworks<\/b><span style=\"font-weight: 400;\"> such as <\/span><span style=\"font-weight: 400;\">Common Reporting Standard (CRS) and <\/span><span style=\"font-weight: 400;\">Foreign Account Tax Compliance Act (FATCA),<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">CARF requires Reporting Crypto-Asset Service Providers (RCASPs) to:<\/span>\n<ul>\n<li style=\"font-weight: 400;\"><strong>Identify their users.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>Collect tax-related information.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><strong>Report specified crypto-asset transactions annually.<\/strong><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The reported information<strong> is automatically exchanged with the tax authorities of the jurisdictions where crypto-asset users are tax residents<\/strong> under international agreements.<\/span><\/li>\n<\/ul>\n<\/li>\n<li>The framework<strong> also differentiates between new and existing users.<\/strong><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>News: The Central Board of Direct Taxes has released a guidance note on crypto-asset reporting obligations, aligning India\u2019s tax reporting framework with the OECD framework. About CBDT&#8217;s Crypto-Asset Reporting Guidance\u00a0 Definition of crypto as per Indian law: India\u2019s income tax law defines a \u201ccrypto-asset\u201d\u00a0 as a digital representation of value that relies on a cryptographically&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/cbdts-crypto-asset-reporting-guidance\/\">Continue reading <span class=\"screen-reader-text\">CBDT&#8217;s Crypto-Asset Reporting Guidance\u00a0<\/span><\/a><\/p>\n","protected":false},"author":10366,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,12039],"tags":[11872,10500],"class_list":["post-368388","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-knolls","tag-9pm-daily-factly","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/368388","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10366"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=368388"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/368388\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=368388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=368388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=368388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}