CBDT has sent in excess of 44,000 alerts to taxpayers, directing them to reveal their crypto transactions.

Minister of State for Finance Pankaj Chaudhary
Photo Credit: ANI

The Finance Ministry has issued more than 44,000 communications to taxpayers for failing to disclose their cryptocurrency transactions in their Income Tax Returns, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on Monday. Simultaneously, the Enforcement Directorate (ED) has attached proceeds of crime exceeding ₹4,000 crore in crypto-linked investigations under the Prevention of Money Laundering Act (PMLA).

Finance Ministry data tabled in the Lok Sabha also revealed that Tax Deducted at Source (TDS) collections on crypto transactions have more than doubled over the past three years.

In a written response, Chaudhary stated: “Under the CBDT’s NUDGE (Non-Intrusive Usage of Data to Guide and Enable) campaign, 44,057 communications have been issued to taxpayers who invested in or traded VDAs but did not report these in Schedule VDA of their ITRs.” He added that advanced analytics—through Project Insight and internal databases—is being used to compare VDA transaction data with ITR disclosures. TDS statements filed by Virtual Asset Service Providers (VASPs) are also examined to spot discrepancies and initiate action.

Chaudhary further informed that the ED has taken action in several crypto-related cases under PMLA, leading to attachment, seizure, or freezing of assets worth ₹4,189.89 crore. So far, 29 individuals have been arrested and 22 prosecution complaints filed, while one accused has been declared a Fugitive Economic Offender.

TDS Collection Trend

In a separate written reply, Chaudhary highlighted that TDS collected by crypto exchanges increased from over ₹221 crore in 2022–23 to more than ₹511 crore in 2024–25. Maharashtra’s collection rose from ₹142 crore to ₹293 crore during this period, while Karnataka recorded the sharpest rise—from ₹39 crore to about ₹134 crore.

As per the Finance Act, 2022, a 1% TDS applies to all transfers of virtual digital assets, including those involving offshore platforms, where income is taxable in India. Chaudhary noted that several offshore cryptocurrency exchanges serving Indian users are not complying with these TDS requirements.

Survey operations conducted on three crypto exchanges uncovered TDS non-compliance amounting to ₹39.8 crore and undisclosed income of ₹125.79 crore. Additionally, search and seizure actions under Sections 132 and 133A of the Income Tax Act led to the detection of undisclosed income of ₹888.82 crore related to VDA transactions.

Chaudhary emphasized that due to the global nature of crypto assets, coordinated international action is essential. “A regulatory framework for crypto assets can be effective only with substantial global cooperation—particularly on assessing risks, benefits, and establishing common standards and taxonomy,” he said.

The government has announced that the new ITR forms under the revised Income Tax Act will be issued before FY 2027-28.

New Delhi: The government will notify the new Income Tax Return (ITR) forms—designed under the provisions of the Income Tax Act, 2025—before the start of the 2027-28 financial year, Minister of State for Finance Pankaj Chaudhary informed on Monday.

In a written reply in the Lok Sabha, Chaudhary said the CBDT’s committee on ITR simplification is holding wide-ranging consultations with tax professionals, institutional stakeholders, and various field units of the Income Tax Department.

The Income Tax Act, 2025—passed on August 21—will come into force from April 1, 2026, replacing the existing Income Tax Act of 1961. The new law aims to streamline tax legislation, cut down on complex wording, and enhance clarity for taxpayers.

All related forms under the Act, including TDS quarterly return forms and ITR forms, are being redesigned. The Directorate of Systems is collaborating with the Tax Policy Division to create forms that are more user-friendly.

Chaudhary noted that the ITR forms under the new Act will need to incorporate amendments introduced in Budget 2026. Therefore, the ITRs for the first tax year—2026–27—will be notified before FY 2027-28.

Regarding forms for income earned in the current fiscal year (Assessment Year 2026-27), he said the ongoing work of consolidation and simplification will continue, and these forms will be issued as per the existing Income Tax Act, 1961.

India Senior Citizen Tax Perks 2025-26 | More Than 30 Unique Benefits You Should Know

भारत में Senior Citizens को मिलने वाले लाभ — 2025–26 की सम्पूर्ण गाइड (30+ फायदे)

भारत सरकार का मानना है कि वरिष्ठ नागरिकों ने अपना पूरा जीवन परिश्रम, जिम्मेदारियों और समाज के निर्माण में लगा दिया है। इसलिए उन्हें सामान्य नागरिकों की तुलना में अधिक सुविधाएँ, कर लाभ और विशेष रियायतें प्रदान की जानी चाहिए।

इस विस्तृत लेख में हम Senior Citizens तथा Super Senior Citizens के लिए उपलब्ध सभी Tax Benefits, Banking सुविधाएँ, Compliance Relief, सरकारी योजनाएँ, छूट, रियायतें और विशेष अधिकारों को विस्तारपूर्वक समझेंगे।

यह सबसे व्यापक और पूरी तरह अपडेटेड गाइड है — जिसमें आपके अनुरोध अनुसार 30+ महत्वपूर्ण लाभ शामिल हैं।

Income Tax में Senior Citizens के प्रकार (4 श्रेणियाँ)

1️⃣ Normal Taxpayer
उम्र: 60 वर्ष से कम

2️⃣ Senior Citizen
उम्र: 60 से 79 वर्ष

3️⃣ Super Senior Citizen
उम्र: 80 वर्ष या उससे अधिक

4️⃣ Specified Senior Citizen (Section 194P)
उम्र: 75+ वर्ष
केवल पेंशन + उसी बैंक का ब्याज
ऐसे व्यक्तियों को ITR भरने से छूट (बैंक TDS काटकर कर-निपटान कर देता है)

New Tax Regime (FY 2025–26) — पूरी स्लैब संरचना

सरकार ने नई टैक्स व्यवस्था को default regime बना दिया है। स्लैब इस प्रकार हैं:

Senior Citizens के लिए सबसे बड़ा फायदा — ₹12.75 लाख तक Zero Tax

2025–26 में Standard Deduction (Salary & Pension) = ₹75,000

उदाहरण:
कुल पेंशन = ₹12,75,000
घटाएँ: Standard Deduction = ₹75,000
Taxable Income = ₹12,00,000

→ New Regime में ₹12 लाख तक Section 87A Rebate लागू
→ टैक्स = ZERO

⭐ यानी Senior Citizen pensioners की ₹12.75 लाख तक की आय पर कोई टैक्स नहीं।

Old Tax Regime — Updated Basic Exemption Limits

Section 80TTB — ब्याज आय पर ₹50,000 अतिरिक्त छूट

Senior Citizens को (Saving + FD + RD + Post Office + Co-operative Bank)–
सभी पर कुल ₹50,000 तक deduction मिलता है।

यह 80TTA के स्थान पर लागू होता है।

Section 80D — Medical Insurance पर ₹50,000

• Senior Citizens के health insurance premium पर ₹50,000

• यदि insurance उपलब्ध नहीं, तो medical expenses पर भी ₹50,000

• माता-पिता के insurance पर भी benefit

Section 80DDB — गंभीर बीमारियों पर ₹1,00,000 की छूट

Cancer, Kidney Failure, Parkinson’s आदि specified diseases पर
Senior Citizens deduction = ₹1,00,000
(अन्य लोगों को केवल ₹40,000)

Advance Tax से छूट (Section 207)

यदि Senior Citizen की केवल
✔ Pension Income
✔ Interest Income
है, और कोई Business Income नहीं:
→ Advance Tax नहीं देना
→ 234B/234C Interest नहीं लगेगा

80+ वर्ष (Super Senior) — Offline ITR Filing की सुविधा

Super Seniors (80+):
ITR-1 / ITR-4 पेपर मोड में भर सकते हैं
E-filing अनिवार्य नहीं

Section 194P — 75+ साल वालों को ITR से पूरा छूट

शर्तें:
✔ उम्र 75+
✔ केवल पेंशन + उसी बैंक का ब्याज
→ Bank tax निकालकर सीधे Department को जमा करेगा
→ ITR भरने की आवश्यकता नहीं

Low Risk Profile — Scrutiny से लगभग छूट

यदि कोई व्यवसायिक आय नहीं है,
→ 143(2) scrutiny notice
→ 147/148 reassessment notice
सामान्यतः नहीं भेजे जाते

Family Pension Exemption बढ़ा — ₹25,000

अब New Regime में:
1/3 of pension OR ₹25,000 (lower) exempt
(पहले सीमा ₹15,000 थी)

LTCG (Shares) पर Extra Benefit

₹4 लाख rebate में cover

• ₹1.5 लाख additional LTCG exempt
  → कुल मिलाकर Senior Citizens को ₹1.5 lakh extra tax-free LTCG

Reverse Mortgage — पूरा LTCG छूट

घर reverse mortgage करने पर
→ इसे “transfer” नहीं माना जाता
→ कोई capital gain tax नहीं

Senior Citizen FD Interest — अधिक ब्याज दरें

Banks:
+0.50% अतिरिक्त (Senior Citizens)
+0.75% तक (Super Seniors)

Form 15H — सीमा बढ़कर ₹12 लाख

Senior Citizen:
No TDS upto ₹12 lakh (Form 15H पर)

Bank Interest TDS Threshold — ₹1,00,000

Senior Citizens पर TDS तभी जब ब्याज > ₹1,00,000
(अन्य लोगों के लिए सीमा ₹40,000)

ITR Mandatory Filing — Higher TDS Limit

Normal: TDS > ₹25,000 → ITR आवश्यक
Senior Citizen: सीमा = ₹50,000

SCSS (Senior Citizen Savings Scheme) — प्रमुख लाभ

✔ न्यूनतम आयु: 60+
✔ जमा सीमा: ₹30 लाख
✔ ब्याज: ~8.2%
✔ 80C में deduction
✔ सरकार समर्थित सुरक्षित योजना

Super Senior Citizens (80+) — PAN–Aadhaar Linking Fee से छूट

80+ के लिए ₹1,000 linking fee नहीं लगेगी।

Airline Discounts — 5% से 50% तक

Aadhaar/ID दिखाने पर base fare में रियायत।

Senior Citizen Card — National + State Benefits

Healthcare, public services, travel concession आदि में लाभ।

Courts में Priority Hearing

Senior Citizens के मामलों की early listing एवं तेज disposal।

Health & Hospital Benefit

Govt Hospitals में लगभग free
Private Hospitals में special discounts

Roadways Bus Concession

कई राज्यों में 30%–50% तक छूट (जैसे RSRTC – 50%)

RBI Doorstep Banking (70+ years)

Cash pickup
Cash delivery
Cheque/Draft delivery
Home KYC

सब अनिवार्य सेवाएँ हैं।

Property Tax / Stamp Duty Relief

कई राज्यों में
✔ House tax rebate
✔ कम stamp duty
✔ Registration fee रियायतें

BSNL/MTNL Concessions

Priority installation
कम charges
Monthly bill relief

State Old Age Pension

राज्य सरकारें ₹1000–₹1500 या अधिक pension देती हैं (age criteria अलग-अलग)

Railway – Lower Berth Quota

Senior Men (60+) और Women (58+) को
Guaranteed lower berth + Priority allocation

भारत सरकार का उद्देश्य है कि वरिष्ठ नागरिकों को आर्थिक, स्वास्थ्य और सामाजिक जीवन के हर स्तर पर अधिक सुविधा और सम्मान मिले।

PAN to Be Declared Inoperative After 31 December 2025 — Know the Impact and Steps to Complete the Linking

If you’ve been putting off your PAN–Aadhaar linking thinking you’ll handle it “sometime soon,” that moment has officially arrived. The deadline is fast approaching, and 31 December 2025 is the final date to link your Permanent Account Number (PAN) with Aadhaar. Missing this cut-off will make your PAN inoperative, which can severely impact essential tax activities — from filing your ITR to receiving refunds.

For millions of taxpayers, PAN is far more than just a plastic card or an alphanumeric code. It serves as the primary identifier for every financial interaction with the Income Tax Department. Whether it involves monitoring advance tax, reconciling TDS/TCS, processing income tax returns, or clearing refunds — PAN is central to the entire compliance ecosystem. Linking Aadhaar with PAN enables the government to prevent duplicate PANs, reduce tax evasion, and ensure accurate matching of financial records.

Who Needs to Link PAN with Aadhaar? — CBDT Guidelines

The Central Board of Direct Taxes (CBDT) has clearly stated:

Any individual who has been allotted both PAN and Aadhaar on or before 1 October 2025 must link the two by 31 December 2025.

Failure to do so will make the PAN inoperative from 1 January 2026.

Consequences of an Inoperative PAN

An inoperative PAN is not cancelled, but in practice, it functions as if you don’t have a PAN at all. This leads to several disruptions in routine tax and financial operations:

❌ 1. Cannot file Income Tax Returns

The e-filing portal will not permit filing of ITRs using an inoperative PAN.

❌ 2. Refunds will be withheld

Any refund due will remain pending until the PAN is reactivated.

❌ 3. Pending return proceedings will be impacted

Processes such as defective returns (u/s 139(9)), updated returns (u/s 139(8A)), and assessments requiring PAN authentication will not progress.

❌ 4. Higher TDS/TCS rates

You will be considered a taxpayer “without PAN” under Sections 206AA and 206CC, resulting in deduction/collection of tax at higher rates.

❌ 5. Problems in high-value transactions

Banks, mutual funds, and other financial institutions may reject or hold transactions where PAN verification is mandatory.

In essence, allowing your PAN to become inoperative can lead to compliance setbacks, financial delays, and unnecessary complications.

Step 1: Visit the Income Tax e-Filing Website

Open the official portal: www.incometax.gov.in
On the homepage, look for the Quick Links section.

Step 2: Select ‘Link Aadhaar’

Clicking this option will open a form where you must provide:

• Your 10-digit PAN

• Your 12-digit Aadhaar number

• Name exactly as it appears on Aadhaar

Tick the declaration confirming that the details are correct, then press Validate.

Step 3: Pay the Linking Fee (If Applicable)

A late fee of ₹1,000 is required if the linking is done after the previous deadline.

If your payment is not already registered, the system will show:
“Payment details not found.”

Click Continue to Pay Through e-Pay Tax, and complete the payment using the following path:

Payment Procedure

1. Enter your PAN and mobile number, then verify via OTP.

2. On the e-Pay Tax dashboard, choose:

   • Assessment Year: 2025–26

   • Type of Payment: Other Receipts (500)

   • Sub-type: Fee for delay in linking PAN with Aadhaar

3. The portal will automatically fill the amount as ₹1,000.

4. Select your payment method and finish the transaction.

A Challan will be generated — keep this for future reference.

Step 4: Complete the Aadhaar–PAN Linking Request

Return to the Link Aadhaar page and:

• Enter PAN, Aadhaar, and Name again

• Submit the OTP sent to your Aadhaar-linked mobile number

• Click Validate

Your linking request will now be submitted.

How to Check Your Aadhaar–PAN Linking Status

You can verify the status in a few seconds:

1. Visit www.incometax.gov.in

2. Under Quick Links, click Link Aadhaar Status

3. Enter your PAN and Aadhaar

4. Select View Link Aadhaar Status

You will see one of the following responses:

✔ Linked

“Your PAN is already linked with Aadhaar.”

❌ Not Linked

You will be asked to complete the linking process.

⏳ Pending Verification

Your request has been forwarded to UIDAI for confirmation.

With 31 December 2025 being the final deadline, taxpayers are strongly advised to finish the Aadhaar–PAN linking process at the earliest.
An inoperative PAN can lead to a cascade of compliance problems — including stalled refunds, higher TDS rates, and delays in processing income-tax matters.
The entire procedure requires only a few minutes and ensures seamless tax compliance going forward.