US EditionIndia to include crypto assets in financial account reporting from 2026
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India will update its financial reporting framework to incorporate crypto-assets, CBDCs and certain e-money products, in a step that expands the scope of the tax report and raises monitoring requirements for banks and service providers. *** The Central Direct Tax Board expanded the definition of financial assets to include crypto-assets, CBDCs and specific e-money products. Crypto-asset service providers and certain financial institutions will r…
India to include crypto assets in financial account reporting from 2026
India has revised the income tax rules to broaden the scope of financial account reporting from this year. The updated framework will cover crypto assets, central bank digital currencies (CBDCs) and specific electronic money products. The Central Board of Direct Taxes (CBDT) has formally notified the changes, according to an Economic Times report. The definition of “financial assets” was expanded to include CBDCs and a range of electronic money …
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