Crypto Traders Face August 31 Deadline in India
The Income Tax Department in India has announced that over 7 crore ITRs have been filed for the Assessment Year (AY) 2026-27. For non-audit business entities, professionals, and crypto traders, the deadline to file their returns is August 31, 2026. This deadline applies to those filing ITR-3 or ITR-4.
The new Schedule VDA requires detailed reporting of cryptocurrency transactions, including acquisition date, transfer date, cost, and consideration received. Failure to report this information correctly or missing the relevant window could result in severe financial penalties for crypto investors, DeFi participants, and DEX/CEX traders.