Income-Tax dept conducts surveys at Bitcoin exchanges across country

The Income Tax Department of the Indian government has reportedly swooped in on nine bitcoin exchanges to look into alleged tax evasion. According to a report from the Press Trust of India (PTI), the country’s largest news agency, multiple investigative teams from the Income Tax (IT) department in India jointly visited the premises of nine bitcoin exchanges today to conduct ‘survey operations’ on suspicion of alleged tax evasion. Under section 133A of the Income Tax Act, the survey enables the tax sleuths to gather “evidence for establishing the identity of…

Read More