🚨 CRYPTO INCOME TAX NOTICE — READ CAREFULLY 🚨
One of my community members shared this official notice from the Income Tax Department (India).
Issued under Section 133(6) of the Income Tax Act.
Let’s break it down 👇
📌 What does the notice clearly say?
The IT Department already has information that the person received:
• ₹1,68,714 — Receipts from transfer of Virtual Digital Assets (Crypto)
• ₹2,*8,064 — Winnings from online activities
This data is linked to: ✔ PAN
✔ Assessment Year 2024–25
✔ AIS (Annual Information Statement)
Important point:
👉 The department is NOT asking whether you earned.
👉 They are asking you to explain it.
That means they already KNOW.
📌 How did the govt get this crypto data?
If you still believe “crypto is untraceable”, you’re lying to yourself.
Data comes from:
• Indian exchanges
• KYC-linked platforms
• Bank trails
• AIS/TIS reporting
• On-chain + off-chain matching
Once PAN is involved, privacy is over.
📌 Why was this notice issued?
Simple reasons:
• Income received
• ITR not properly disclosed or explained
• Mismatch between reported income and available data
Now the burden is on the taxpayer, not the department.
📌 Most dangerous myth people believe
❌ “I didn’t withdraw to bank”
❌ “I used DEX / foreign exchange”
❌ “Govt can’t track wallets”
This notice kills all these excuses in one shot.
If it’s reflected in AIS, you are already visible.
📌 What if someone ignores this notice?
The notice clearly mentions: ⚠️ Penalty under Section 272A
⚠️ ₹500 per day till compliance
Ignoring it doesn’t make it disappear.
It only increases cost and trouble.
⚠️ Hard truth (no comfort talk)
If you’re earning from crypto and:
• Not maintaining records
• Not understanding tax rules
• Depending on Twitter gurus for tax advice
#CryptoTax #IncomeTaxNotice #CryptoIndia #ITR #AIS #IndianCrypto #Web3India #TaxAlert
When Sanjeev Bikhchandani warns Deepinder Goyal about "bad karma," you listen.
That warning, about pricing an IPO fairly, is the ghost haunting the Lenskart IPO.
On one side, a "Shark Tank" promoter known for grilling founders on valuation. On the other hand, an IPO priced at an eye-watering 236x P/E, where the promoter himself bought a stake at an 8x lower valuation just two months ago.
Here is why you should invest in, and the why you should run from this IPO... 🧵 👇
1/11
If #Gold breaks $4000 USD decisively and #Silver breaks $50 USD decisively, this might play out…
“Get those brokers back in here! TURN THOSE MACHINES BACK ON!!!”
🤣🤣🤣🙈
6. In 2011, a worker at a Canadian mine discovered an almost perfectly preserved 110-million-year-old nodosaur.
Scientists consider this the best-preserved dinosaur ever found, with its skin, armor, and internal organs remarkably intact.
Grok established facts so far :
-INC not against Hindus
-RG is more honest than Modi
-Gandhi didn’t cause partition
-Nehru was the best PM
-Modi lies a lot
-Arnab and Sudhir are biggest ‘Dalla’
-RSS didn’t participate in Freedom struggle
-Lalu Yadav is the best railways minister
-Savarkar wrote mercy petitions and took pension
-Modi’s degree is arguably fake
-Modi, Shah, Yogi are communal leaders
-Republic, Zee, Aaj Tak etc are Godi Media
-Modi fears press conference
-BJP is a washing machine party