CBDT Aligns Crypto Reporting Framework with OECD Guidelines

The Central Board of Direct Taxes (CBDT) has issued new guidance on reporting obligations for crypto-assets in India. The guidance, which aligns with the Organisation for Economic Co-operation and Development's (OECD) Crypto-Asset Reporting Framework (CARF), aims to standardize how crypto exchanges report transaction data to tax authorities.

Punit Agarwal, Founder & CEO of KoinX, explained that while there is no change in taxation for investors, the guidance note introduces a new reporting requirement for crypto exchanges. According to Agarwal, exchange-reported data and taxpayers' Income Tax Returns (ITRs) will be matched under a common framework starting from 2026.

Agarwal cautioned that investors should maintain accurate records of their transactions and reconcile them with the information reported by crypto exchanges. He also warned that cross-border information sharing under the OECD's CARF may expose Indian tax authorities to data on foreign platforms used by local investors.