India Updates Tax Reporting Rules to Include Crypto Assets and CBDC
By: rootdata|2026/08/04 05:40:13
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Prefer us on GoogleThe Central Board of Direct Taxes (CBDT) of India has issued revised guidelines updating the implementation rules for FATCA and the Common Reporting Standard. The new rules include crypto assets, central bank digital currencies (CBDCs), and digital financial products within the reporting scope. Financial institutions are required to identify reportable accounts, verify tax residency status, and report relevant information in accordance with automatic information exchange requirements. Enhanced due diligence is required for high-value accounts with balances exceeding $1 million.
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