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India's 2026 budget keeps 30% crypto tax, adds $545 penalty for missed reports
India’s Union Budget for 2026-27 has left the country’s crypto tax regime unchanged, retaining the existing transaction tax and withholding rules, while proposing a new penalty framework aimed at tightening compliance around crypto-asset reporting. Under amendments proposed in the Finance Bill, 2026, entities required to report crypto-asset transactions to tax authorities would face monetary penalties for lapses, including daily fines for non-filing and a fixed charge for inaccurate disclosures. The provisions are set to take effect from April 1, 2026. The proposal applies to reporting entities covered under ... (full story)
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