Indians who trade or invest in cryptocurrencies on Indian platforms could come under the taxman's lens, as might those who hold such coin outside the country. The government is looking to amend current income tax and disclosure norms in the upcoming budget to include terms such as cryptocurrency.

The government wants to capture cryptocurrency income and investments within and outside India, said people aware of the development.

The government is considering amending Section 26A of the Income Tax Act and the Annual Information Regulation (AIR), which shows data on all investments made by a taxpayer and is often called a 'tax passbook'.