India - Complete Tax Report

This is the most comprehensive report available for Indian users on KoinX. It compiles all your crypto tax information into a single document formatted for Indian tax regulations under the Income Tax Act, 1961. The report includes capital gains from crypto trades, derivatives income, other crypto income, TDS summary, and asset balances, along with detailed transaction records your CA can use while filing your ITR.

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Report Sections Overview

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1. Cover Page

Provides the basic metadata of the report:

• User name
• Country (India)
• Reporting currency (INR)
• Report generation date
• Financial year covered
• Cost accounting method used
• List of sections in the report
• Disclaimer

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2. Tax Settings and Customisations

Shows exactly how the report calculations were performed, based on the settings you selected in Tax Settings and Transaction Preferences. Change these settings in Customising Your Reports This section is useful when your CA wants to verify the calculation logic behind the report.

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3. Summary of Capital Gains

Summarises all taxable crypto disposals during the financial year. Example trades:

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Tax Calculation (India)

Under Indian crypto taxation rules:

• Tax Rate: 30% on gains
• Tax on Gains:
  ₹4,20,000 × 30% = ₹1,26,000
  Health & Education Cess (4%)
  ₹₹5,040

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Total Tax Payable

**₹**1,31,040

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4. Summary of Income from Crypto Derivatives

Summarises profits and losses from crypto futures and options trading. Derivatives are reported separately from spot trades because they involve different calculations such as funding fees, brokerage charges, and trading turnover. Real Example: You traded BTC perpetual futures on an exchange: Net Derivatives Income: ₹30,000

💡 Note: If your derivatives turnover exceeds ₹10 crore (or ₹2 crore for cash-based), you may need a tax audit. Consult your CA.

Key terms: Futures Turnover is calculated as the sum of realised profits and realised losses from futures trading. Funding Interest applies to perpetual futures contracts, where traders either pay or receive funding fees depending on market conditions. Funding Interest Received is income; Funding Fees Paid are expenses. Gross vs Net Gains is the profit before and after deducting brokerage fees respectively.

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5. Summary of Other Incomes / Other Expenses

Captures crypto received as income rather than through trading. Common examples: Real Example: You staked 10 SOL for the year and received 0.8 SOL as rewards (worth ₹14,000 at time of receipt). You also received a random airdrop of 500 XYZ tokens (worth ₹2,500 at receipt). This ₹16,500 is taxable as income. When you eventually sell those SOL rewards or XYZ tokens, you’ll also pay capital gains tax on any additional appreciation. ⚠️ Double taxation alert: You’re taxed once when you receive rewards (as income) and again when you sell (as capital gains on appreciation beyond the receipt value). Expenses such as margin interest or operational costs also appear in this section.

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6. Summary of Asset Wise P&L

Shows profit and loss per cryptocurrency asset. What this tells you:

• ETH was your biggest winner (+1,32,361.95)
• USDT was your biggest loser (-6,92,719.08)

💡 Tax planning insight: If you’re holding unrealized losses, consider tax-loss harvesting before March 31. But remember — in India, crypto losses can’t offset gains, so this is mainly for record-keeping. This helps identify which assets contributed to gains or losses during the year.

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7. Schedule VDA Transactions

Transaction-level reporting required for Schedule VDA in your ITR.

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Why Income from VDA Shows Rs. 0 for Loss Trades

Under Section 115BBH, crypto losses cannot be set off against gains or any other income. Loss trades are still recorded in Schedule VDA, but Income from VDA is shown as Rs. 0. Example:

• Cost of Acquisition: Rs. 50,000
• Sale Value: Rs. 32,000
• Actual Loss: Rs. 18,000
• Income from VDA reported: Rs. 0

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8. Detailed Beginning of Year Balance

Shows your portfolio position at the start of the financial year, with quantity, cost in INR, value in INR, and average price per coin. Why this matters:

• Shows your starting position for the year
• Helps verify that cost basis carry-forward is correct
• Useful for audit trail and reconciliation

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9. Detailed End of Year Balance

Shows your portfolio position on the last day of the financial year, with the same columns as the opening balance. Your CA may request both reports for reconciliation. What this tells you:

• Shows your position at the end of year.
• Help you keep a record for tax purposes.

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10. Capital Gains Transactions

Detailed record of each disposal, including date purchased, date sold, asset, quantity, purchase value, sale value, gains or losses, source, and any remarks.

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11. Crypto Derivatives Transactions

Individual futures and options trade records, including date, asset, quantity, net gain, type (Futures or Options), and remarks.

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12. Other Transactions

Lists all income events such as airdrops, staking interest, and rewards, with date, asset, quantity, description, value, and remarks.

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13. Data Sources

Lists all exchanges and wallets used to generate the report, including name, custom name, type, address (for wallets), and first and last transaction dates. 💡 Missing data? If an exchange isn’t listed here, those transactions aren’t in your report. Go to Integrations and add it before regenerating. How to add a missing integration

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Understanding the Tax Calculation

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Capital Gains (Section 115BBH)

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TDS (Section 194S)

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Frequently Asked Questions

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See all available reports including universal reports