CBDT issues crypto reporting guidelines for exchanges under Income-tax Act 2025

The Central Board of Direct Taxes (CBDT) has issued a guidance note for Reporting Crypto-Asset Service Providers (RCASPs) on complying with the Income-tax Act, 2025. The note implements India’s adoption of the OECD’s Crypto-Asset Reporting Framework (CARF) for automatic exchange of tax information across jurisdictions. It clarifies definitions, reporting obligations, and exclusions such as Central Bank Digital Currencies, without introducing a new tax regime for virtual digital assets.