On some Indian telegram groups about crypto people are complaining they got notices from tax authorities AFTER filing Income tax, almost all of them purchased crypto using bank acc via local exchange like WazirX, CoinDCX etc.. i am just curious if anyone got notice in india for trading in Binance.com, FTX, ByBit or Coinbase? i've heard some indians have huge sums on their offshore crypto exchange account such as binance, coinbase etc.. which they earned by trading and haven't disclosed it and many investors have small holding on binance, coinbase, ftx. etc.. which they don't intend to disclose too. Binance's official statement is that they don't share lumsum data of indian users with government but i think that's BS they will most likely give all the data to government soon enough.
Are you sure about the news? Because for last year even I filed my Income tax return and many friends of mine have done it too but we have faced no issues so far and have received no notices too. And as for the returns for this year, the forms for filing tax returns aren't out yet so they definitely wouldn't have filed any returns so far. So obviously they are talking about last year only. But yes this notice thing can be quite subjective and only a few cases are selected for scrutiny after they have filed their returns, not all of them are selected. Generally cases with the high-income groups and having tedious income structures are selected under scrutiny and are served notice. But I think intelligent people should have declared their incomes and won't get a lot of troubles in notices.