CB(R)DT issues crypto asset reporting note aligned with OECD framework
India’s tax authority issued crypto asset reporting guidance aligned with the OECD framework for standardized reporting and information sharing.
GS3The Indian ExpressGS3Crypto taxation and reportingOECD crypto asset reporting frameworkCBDT guidance
What happened: CBDT/CB(C)DT guidance on crypto asset reporting aligned with the OECD framework
India’s tax authority, the Central Board of Direct Taxes (CBDT) and its associated entity CB(C)DT, issued guidance/notes on reporting crypto assets aligned with the Organisation for Economic Co-operation and Development (OECD) framework. The guidance focuses on standardized compliance and standardized information sharing for crypto holdings and crypto transactions.
The guidance indicates that reporting expectations extend to relevant entities and/or taxpayers under the OECD-aligned reporting framework.
Background and earlier position
Crypto holdings and crypto transactions create tax reporting and compliance challenges because tax reporting systems must capture details of digital-asset ownership and transfers in a consistent way. OECD-style frameworks are widely used to define comparable structures for reporting and information exchange across jurisdictions.
