India: Finance Bill 2025 (No. 7) including reporting requirement enters into force
Description
Finance Bill 2025 (No. 7) including reporting requirement enters into force
On 1 April 2026, the reporting requirement in Finance Bill 2025 under Section 25BAA of the Income-tax Act will come into force, requiring prescribed entities dealing in crypto-assets to submit transaction-related information to the Income-tax authorities. Furthermore, the Act authorises the Central Government to stipulate requirements for registration, record-keeping, and due diligence for such entities. The Act also establishes procedures for correcting defective filings, rectifying inaccuracies, and issuing notices in cases of non-compliance.
Original sourceScope
Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
online advertising provider, platform intermediary: user-generated content, platform intermediary: e-commerce
Implementation Level
national
Government Branch
executive
Government Body
central government
Complete timeline of this policy change
Hide details
2025-02-01
under deliberation
2025-03-25
under deliberation
2025-03-27
adopted
2025-03-29
adopted
2025-04-01
in force