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India to implement OECD's crypto reporting framework from April 2027

India is expected to sign the Multilateral Competent Authority Agreement (MCAA), a global framework for automatic exchange of tax information next year, he said

Bitcoin, Crypto
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Industry estimates peg the Indian crypto market’s transaction values at around $172 billion, with the user base likely to cross 107 million by 2025. (Photo: Reuters)

Monika Yadav New Delhi
India will implement the Organisation for Economic Co-operation and Development’s (OECD’s) Crypto-Asset Reporting Framework (CARF) from April 1, 2027, bringing offshore cryptocurrency holdings of its residents under the tax net, according to a senior finance ministry official. 
India is expected to sign the Multilateral Competent Authority Agreement (MCAA), a global framework for automatic exchange of tax information next year, he said. 
India had signed an MCAA for financial account information in 2015, but a separate pact under CARF will be required
to cover crypto assets, he clarified. Legislative changes and system preparations are already underway to meet the 2027 deadline, he