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India is moving to align its crypto-asset reporting with the OECD's Crypto-Asset Reporting Framework (CARF).
CARF is a global standard for the automatic exchange of information on crypto transactions between countries.
India plans to implement CARF-based rules under its Income-tax framework, effective from April 2027.
It is set to join the Multilateral Competent Authority Agreement that enables cross-border data sharing.
The move aims to improve tax transparency and compliance in the crypto space.
The Crypto-Asset Reporting Framework is an OECD-developed global standard that requires crypto exchanges and service providers to report users' transactions to tax authorities, which then automatically share that information with other countries where the users are taxable. It extends to crypto the same idea already used for bank accounts under the Common Reporting Standard (CRS). The aim is to stop crypto being used to hide income and evade tax across borders, by making holdings visible to tax authorities worldwide.
Simple Analogy: CARF is to crypto what bank-account information exchange (CRS) already is to ordinary savings — a shared window so no country is kept in the dark.
Organisation for Economic Co-operation and Development; develops global tax-transparency standards including CARF and CRS
Banking Awareness > Taxation, Crypto and Global Standards
GS Paper 3 > Economy > Taxation and Digital Assets
Crypto-Asset Reporting Framework, the OECD standard for automatic exchange of crypto-transaction data.
Common Reporting Standard, the OECD standard for exchanging financial-account information.
Virtual Digital Asset — India's tax term for crypto assets, taxed at 30% plus 1% TDS.