Hey folks,
The Indian tax department is turning up the heat on tax evasion by some crypto investors.
In a recent sweep, the department uncovered large-scale tax evasion among digital assets investors and has already sent more than 44,000 notices to people involved.
Trying to evade taxes by using non-compliant platforms is the biggest mistake crypto investors in India can make. Because it can now be easily detected, and the tax burden can quickly compound, eating into profits and then some.
With the income tax filing deadline for this year now set for September 15, 2025, the clock is ticking.
If you have invested in crypto, this is your reminder to get your tax paperwork in order. Getting this right keeps you on the safe side and helps you avoid any future complications.
In India, crypto gains are taxable, and the rules leave little room for confusion (read our complete guide to crypto taxes here).
Whether you are trading in crypto every week, holding for the long term, or earning through staking, you need to make sure all your profits and losses are reported correctly.
This is the time to double-check your records before the taxman comes knocking.
On the CoinSwitch app, you can download your TDS certificates and P&L report from your account.
The rules are clear, the deadline is near, and the penalties for missing it are real. File your returns on time, declare your crypto income, and stay compliant. It’s the easiest way to focus on growing your crypto investments without looking over your shoulder.
Essential Reading
How Crypto Taxation Works: An explainer on crypto taxation in India
Taxation Slabs Guide: Understand which tax bracket you fall into and how much you owe
Income Tax Filing Guide: A Step-by-step guide to filing your income tax returns correctly
Reporting Crypto Earnings: A guide to Section 115BBH on the taxation framework for Virtual Digital Assets (VDAs)
BTC rose over 5% this week, nearing record highs, but ETH stole the spotlight with a 20% surge fueled by regulatory support and ETF inflows. Other major cryptos like XRP, SOL, and DOGE also posted gains, following ETH’s lead.
Weekly price movement:
BTC $121,904 ⏫ 6.44% (7d)
ETH $4,290 ⏫ 21.24% (7d)
XRP $3.26 ⏫ 9.15% (7d)
SOL $183 ⏫ 13.27% (7d)
DOGE $0.23 ⏫ 16.6% (7d)
(All data here as of 1:00 p.m., 11 August 2025)
Before we conclude, here’s a quick look at some important news from around the crypto world.
The US Commodity Futures Trading Commission has launched an initiative to enable the trading of “spot crypto asset contracts” on CFTC-registered futures exchanges. The invitation is part of the CFTC’s “crypto sprint” initiative to implement recommendations from President Donald Trump’s Working Group on Digital Asset Markets, which included 18 recommendations, according to Cointelegraph.
Traditional banks have invested more than $100 billion in blockchain between 2020 and 2024, according to a recent Ripple-backed report claiming digital assets are going mainstream. That figure comes from “Banking on Digital Assets,” a joint study by Ripple, CB Insights, and the UK Center for Blockchain Technologies (UK CBT), which analyzed more than 10,000 blockchain deals and surveyed over 1,800 global finance leaders, according to CoinDesk.
That’s it for now. Thanks for sticking around.
See you later, folks! 👋