In India, crypto tax evasion risks are high due to increased surveillance and severe legal consequences.

In India, crypto tax evasion risks outweigh benefits due to increased surveillance and severe legal consequences. Crypto investors face challenges in undermining the financial system and avoiding taxes, with the Income Tax Department monitoring evasion tactics like failing to report crypto income, underreporting capital gains, and hiding income through offshore exchanges. The government imposes a flat 30% tax on crypto gains.