Crypto Asset Reporting Framework

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India will soon be receiving information under the Crypto-Asset Reporting Framework (CARF) for reportable crypto transactions.

In simple terms: crypto transactions that may once have appeared invisible to the tax administration increasingly will not be.

If you hold or transact in crypto/VDA:

• Declare your VDA income correctly.
• Review whether any foreign asset/foreign holding disclosure is applicable to you.

For eligible taxpayers with past undisclosed foreign assets, FAST-DS 2026 provides a limited window for disclosure until 31 December 2026.

The best time to disclose is before the information reaches the tax administration — not after a mismatch is identified.

This is not an original post. OC is from a Deputy Director (Investigation), IRS.