According to online reports, according to Indian Finance Minister Nirmala Sitharaman in the 2025 Federal Budget Announcement, cryptocurrencies will be included in Section 158B of the Income Tax Act and used to report undisclosed income. The amendment allows collective assessment of unreported cryptocurrency gains, allowing them to enjoy the same tax treatment as traditional assets such as currency, jewelry and gold bars. According to the new amendment, cryptocurrencies will fall within the definition of virtual digital assets (VDA), which stipulates: "Based on the existing definition of virtual digital assets, cryptoassets have been defined in Section 2(47A) of the Act […] In accordance with Section 285BAA of the Act, reporting entities will be required to provide information on cryptoassets." In a signal of concerns about cryptocurrency holders, Indian authorities may impose tax fines of up to 70% on previously undisclosed cryptocurrency profits. According to the filing, the fine may apply to crypto gains that have not been disclosed for up to 48 months after the relevant tax assessment year, which read: "70% of the total tax and interest payable on additional income disclosed in the updated income tax return [ITR]."