Obligation to furnish information on crypto-asset transactions mandates reporting entities to submit prescribed transaction statements and correct defects on notice.

Obligation to furnish information on crypto-asset transactions requires prescribed reporting entities to submit periodic statements of crypto-asset transactions to the prescribed income-tax authority in the prescribed form, manner and time; the authority may intimate defects and require rectification within a specified period, treat unrectified defects as inaccurate information, issue notices to late filers to furnish statements, and require prompt correction when inaccuracies are discovered. The Central Government may prescribe registration, information maintenance standards, and due diligence for identifying crypto-asset users or owners.

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