India: Guidance on implementation of cryptoasset reporting framework (CARF)
Guidance operationalizes India's implementation of CARF.
The Central Board of Direct Taxes (CBDT) released a comprehensive guidance note on cryptoasset reporting obligations under section 509 of the Income-tax Act, 2025, read with Rules 241 to 244 and Form 167 of the Income-tax Rules, 2026.
The guidance operationalizes India's implementation of the OECD’s cryptoasset reporting framework (CARF) and provides practical guidance on the identification of reporting cryptoasset service providers (RCASPs), tax residency determination, self-certification procedures, controlling persons, cross-border transactions, reporting requirements, and compliance procedures, supported by FAQs and illustrative examples.
The guidance further clarifies that cryptoasset transaction information reported by RCASPs may be exchanged between participating jurisdictions, enabling tax authorities to obtain information on offshore cryptoasset activities of their tax residents and strengthening global tax transparency and compliance.
Read an August 2026 report prepared by the KPMG member firm in India