Find
Income from virtual digital assets is taxed at 30% plus cess under Sec 115BBH. Only the cost of acquisition is deductible, and a loss on one asset cannot be set off against any gain, even on another crypto. Each transfer goes in Schedule VDA.
ITR
Reporting crypto gains in ITR-2
Updated . Every paid answer is checked by a CA. Free AI answers are labelled until a CA verifies them.
Provisions
Sec 115BBH (now Sec 194)
Analysis
If you made ₹1,00,000 on one coin and lost ₹40,000 on another, tax is on ₹1,00,000, which is ₹31,200 with cess. The 1% TDS deducted by the exchange appears in Form 26AS and is claimed as credit. Report each transfer with dates, cost and sale value in Schedule VDA. Crypto losses cannot be carried forward.
Close
- Download the exchange's tax report.
- List each transfer with cost and sale value.
- Fill Schedule VDA and compute 30% tax on gains.
- Claim the TDS credit.
Connect now
A Savvy replies in minutes.
Fixed price before you pay. Your Savvy is paid only after you accept the work.
General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.