Income Tax Department Targets 800 Individuals for Concealing Assets and Income Worth Over 3,000 Crore The Income Tax Department has issued notices to 800 individuals for allegedly hiding assets and income exceeding 3,000 crore. The department identified cases of significant underreporting of actual income compared to the tax returns filed. According to a source, some individuals reported annual incomes of 10 lakh in their returns, while their actual receipts totaled up to 100 crore. The discrepancies involved assets such as bank deposits, cryptocurrency, and even luxury vehicles, which were not disclosed in their returns. In several cases, individuals filed returns claiming nil income, but evidence from bank accounts and other assets revealed earnings of 20-25 crore. The transactions were conducted through banking channels rather than cash, yet they were not reported in the tax filings. The department detected these mismatches through the scrutiny of Statement of Financial Transactions (SFT), a cross-verification mechanism. This process uncovered instances where business receipts totaling 1,000 crore were unreported, along with cash deposits and withdrawals amounting to 850 crore and 500 crore respectively. Fixed deposits worth 100 crore, as well as the purchase of luxury vehicles valued at 15 crore and cryptocurrency worth 20 crore, remained undisclosed by the individuals. The value of such hidden real estate assets was estimated at 250 crore. The department’s actions also extended to property registrar offices, banks, and hospitals for non-filing of SFT, which requires entities to report high-value transactions.#cryptocurrency #bank_accounts #income_tax_department #statement_of_financial_transactions #luxury_vehicles
Bitcoin Analysis: Is indecision returning to BTC? Over the past two trading sessions, Bitcoin's price movement has remained relatively stable, with a total change of approximately 1.00%. This level of volatility is significantly lower than the sharp swings observed during the previous week, when single-day fluctuations of up to 4.00% were recorded. The current price action suggests a period of uncertainty, with traders struggling to determine the direction of the asset. The market appears to be caught in a state of indecision, where neither bullish nor bearish momentum has gained clear dominance. Analysts note that this hesitation is reflected in the limited price movement, which contrasts with the more aggressive swings seen earlier in the week. While some traders are waiting for clearer signals, others are positioning themselves for potential shifts in market sentiment. Recent technical analysis highlights the growing influence of indecision bias in Bitcoin's price behavior. Despite occasional attempts to break higher levels, the asset has failed to sustain upward momentum, indicating a lack of conviction among buyers. Conversely, sellers have also been unable to push prices lower, suggesting a balance of power between the two camps. This equilibrium has created a range-bound trading environment, with Bitcoin oscillating within a narrow band. The broader cryptocurrency market has also shown signs of similar uncertainty. While some altcoins have managed to outperform Bitcoin, the overall sector remains cautious. Analysts point to a combination of macroeconomic factors and technical indicators as contributing to the current indecision. Central bank policies, inflationary pressures, and geopolitical tensions continue to weigh on investor confidence, further complicating the market's direction.#bitcoin #traders #cryptocurrency #central_banks #analysts
Over $182m lost in 2025: Police warn of increase in scam cases involving cryptocurrency transfers Singapore police have issued a warning about a surge in scams involving cryptocurrency transfers, with victims losing more than $182.2 million in 2025. The advisory highlights that scammers are increasingly targeting individuals through investment schemes, job offers, and impersonation of government officials. The police explained that these scams often begin with victims being directed to create cryptocurrency accounts and purchase digital assets for purported investment purposes or to earn commissions by artificially boosting cryptocurrency values. Once accounts are set up, scammers pressure victims to transfer their cryptocurrencies to designated wallets or share sensitive information such as seed phrases, wallet passphrases, private keys, or authentication codes. This allows the scammers to take control of the victims’ funds and withdraw them. Another common tactic involves impersonating government officials, who falsely accuse victims of involvement in criminal activities like money laundering. Victims are then instructed to transfer their cryptocurrencies to “secure” wallets for “investigations” or “safeguarding.” In such cases, victims typically realize they’ve been scammed when they fail to receive promised commissions or profits, or when they attempt to verify their situation with official authorities. The police emphasized that cryptocurrency transfers are irreversible, making it extremely difficult to recover stolen assets once transactions are completed. They urged the public to remain cautious of investment propositions or job opportunities that promise unusually high returns, as these are often red flags for scams.#scam #cryptocurrency #singapore_police #cyber_security_agency_of_singapore #investment_schemes
