New Delhi, Feb. 1 -- The Union Budget 2025-26 did not introduce any significant relief for cryptocurrency investors, maintaining the 30 per cent tax on crypto gains and the 1 per cent TDS on transactions. However, Finance Minister Nirmala Sitharaman proposed an amendment to the Income Tax Act, mandating that a designated reporting entity disclose transaction details related to virtual digital assets (VDAs).

"It is proposed to bring amendment in the Income Tax Act to provide for that a prescribed reporting entity in respect of a crypto-asset shall furnish information in respect of a transaction in such crypto asset, in a statement as prescribed. It is also proposed to align the definition of virtual digital asset accordingly," the Budget ...