Why in News?
The Central Board of Direct Taxes (CBDT) issued a 198 page guidance note on crypto asset reporting under the Income tax Act, 2025, aligned with the OECD’s Crypto Asset Reporting Framework (CARF).
Key Highlights
- The guidance note runs to 198 pages and is issued under the Income tax Act, 2025.
- It aligns India’s crypto asset reporting with the OECD’s Crypto Asset Reporting Framework (CARF).
- The framework enables automatic global information exchange on crypto asset holdings starting next year.
[2016] With reference to ‘Bitcoins’, sometimes seen in the news, which of the following statements is/are correct?
1. Bitcoins are tracked by the Central Banks of the countries.
2. Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address.
3. Online payments can be sent without either side knowing the identity of the other.
Select the correct answer using the code given below.
