Digital access powers for tax officers broaden investigations into online and crypto assets under the proposed income tax reform.
The proposed Income Tax Bill 2025 centralises temporal tax concepts into a single Tax Year, treats specified Virtual Digital Assets as undisclosed income, and grants tax officers expanded digital access to electronic platforms and accounts for investigatory purposes, while streamlining compliance, clarifying appeal and recovery procedures, and preserving existing tax rates, regimes, heads of income, and deduction structures. (AI Summary)