What VDA non-disclosure risk covers
Crypto and other virtual digital asset income generally needs separate reporting in Schedule VDA. Non-disclosure can trigger tax, interest, penalty and notice risk. If a 60% penalty headline is being considered, verify the exact provision and year before relying on it.
Situations this page is built for
- Past crypto gains not reported.
- Crypto-to-crypto swaps omitted.
- Airdrop or mining income not declared.
- Exchange TDS appears in AIS but income missing in ITR.
- Considering ITR-U before notice.
Documents and details to keep ready
- Exchange trade report.
- TDS under 194S.
- Wallet transfer record.
- Bank deposits and withdrawals.
- Past ITR and AIS.
Process
Clarify facts
Identify the exact year, state, form, portal status, transaction type and statutory deadline.
Reconcile records
Match notices, books, portal data, invoices, challans and bank entries before filing or replying.
Prepare submission
Draft the filing, response, registration application, calculation or project scope with supporting records.
Track outcome
Download acknowledgements, respond to clarifications and keep a clean record trail.
Common mistakes
- Setting off VDA loss against other income.
- Omitting swaps.
- Ignoring foreign exchanges.
- Waiting until 148A notice closes voluntary options.
VDA/Crypto Non-Disclosure Penalty Guide: year and source check
Last fact-checked: 25 May 2026.
AY 2026-27 means FY 2025-26 income under the Income-tax Act, 1961. Tax Year 2026-27 means FY 2026-27 income under the Income Tax Act, 2025. Do not mix the two labels.
If a rate, city list or penalty is described as new for 2026, insist on the exact official notification or portal instruction before applying it.
Use official portal pages, CBDT notifications, the supplied Act PDF and ICAI material before making a filing, payroll, TDS/TCS or rebate decision.
FAQs
Which year should I use for VDA/Crypto Non-Disclosure Penalty Guide?
Use AY 2026-27 for FY 2025-26 income under the Income-tax Act, 1961. Use Tax Year 2026-27 for FY 2026-27 income under the Income Tax Act, 2025.
What documents should I share with a tax expert?
Share the portal screenshot, exact year, income breakup, certificates, AIS/Form 26AS, notices, challans and any computation already prepared.
Can WorkIndex help me find a specialist?
Yes. Post a requirement with the legal year, records and deadline so experts can quote on the real issue instead of a generic page title.
VDA/Crypto Non-Disclosure Penalty Guide: year and source check
Last fact-checked: 25 May 2026.
AY 2026-27 means FY 2025-26 income under the Income-tax Act, 1961. Tax Year 2026-27 means FY 2026-27 income under the Income Tax Act, 2025. Do not mix the two labels.
If a rate, city list or penalty is described as new for 2026, insist on the exact official notification or portal instruction before applying it.
Use official portal pages, CBDT notifications, the supplied Act PDF and ICAI material before making a filing, payroll, TDS/TCS or rebate decision.
What to verify for VDA/Crypto Non-Disclosure Penalty Guide
- Correct financial year, assessment year or tax year.
- Taxpayer type, age category, residential status and business/profession status.
- Exact income heads, including salary, house property, business/profession, capital gains, VDA and other sources.
- AIS/TIS, Form 26AS, TDS/TCS certificates, challans and portal pre-fill.
- Deductions/exemptions allowed in the selected regime and current ITR utility validation rules.
- Whether the issue is a calculation, filing, notice response, rectification, appeal or advisory position.
VDA/Crypto Non-Disclosure Penalty Guide: year and source check
Last fact-checked: 25 May 2026.
AY 2026-27 means FY 2025-26 income under the Income-tax Act, 1961. Tax Year 2026-27 means FY 2026-27 income under the Income Tax Act, 2025. Do not mix the two labels.
If a rate, city list or penalty is described as new for 2026, insist on the exact official notification or portal instruction before applying it.
Use official portal pages, CBDT notifications, the supplied Act PDF and ICAI material before making a filing, payroll, TDS/TCS or rebate decision.
What to verify for VDA/Crypto Non-Disclosure Penalty Guide
- Correct financial year, assessment year or tax year.
- Taxpayer type, age category, residential status and business/profession status.
- Exact income heads, including salary, house property, business/profession, capital gains, VDA and other sources.
- AIS/TIS, Form 26AS, TDS/TCS certificates, challans and portal pre-fill.
- Deductions/exemptions allowed in the selected regime and current ITR utility validation rules.
- Whether the issue is a calculation, filing, notice response, rectification, appeal or advisory position.