India Aligns Crypto-Asset Reporting Obligations with OECD Framework

The Central Board of Direct Taxes (CBDT) has released a 198-page guidance note on crypto-asset reporting obligations, aligning India's tax reporting framework with the Organisation for Economic Co-operation and Development's (OECD) framework.

The measure puts the onus on crypto exchanges to report all transactions accurately and in detail, while helping countries to undertake automatic exchange of information regarding crypto asset transactions starting next year.

According to Richa Sawhney, Partner - Tax at Grant Thornton Bharat, 'it is a tax transparency and information-reporting measure, not a broader regulation of the legitimacy or permissibility of crypto-asset transactions.'

The framework differentiates between new and existing users. For new users, due diligence and valid self-certification are required at onboarding. For pre-existing users as of December 31, 2025, equivalent due diligence must be completed within 12 months from January 1, 2026.