Complete Tax Report: India

KoinX tax reports for India offer a detailed, audit-friendly overview of your crypto activity for the selected financial year. These reports are structured to align with the Income Tax Act, 1961 and international tax reporting standards, covering summaries, transaction breakdowns, and income classifications — all based on your selected tax settings.

Sample Report: Complete Tax Report – India (opens in a new tab)

Tax Guide: Crypto Tax Guide – India (opens in a new tab)

Cover Page

This section summarizes the report’s high-level details:

• User details (name, country, reporting currency)
• Report generation date and period covered
• Cost accounting method (e.g., FIFO)
• Report content list
• Disclaimer on usage

Tax Settings and Customizations

Here you can see the country, reporting currency, and calculation method selected, along with any user-specific customizations for handling different types of crypto transactions.

In India, the chosen cost method (commonly FIFO) and treatment of specific income types are important for determining taxable crypto gains and income classification.

• Selected country: India
• Reporting currency: INR
• Cost method: First-In First-Out (FIFO)
• Treatment of airdrops, rewards, crypto-to-crypto trades, derivatives, and other income
• Any custom overrides made by the user

Capital Gains Summary

This section summarizes all profit and loss from crypto transfers during the financial year, including Spot, P2P, and Margin trades.

In India, gains from crypto transfers are taxed at 30% plus applicable surcharge and 4% cess. Losses cannot be set off or carried forward. Crypto-to-crypto trades are treated as taxable events. Capital gains from Virtual Digital Assets (VDAs) are reported in Schedule VDA of the Income Tax Return.

• Number of transfers
• Sale consideration (INR)
• Cost of acquisition (INR)
• Taxable capital gains before expenses
• Losses (cannot be set off or carried forward)

Summary of Income from Crypto Derivatives

This section covers realised profit/loss, interest expenses, and income from crypto futures and options.

Income from crypto derivatives may be treated as business income (PGBP). Taxpayers may need to maintain books of accounts and conduct an income tax audit if turnover exceeds the threshold.

• Total realised futures profit and loss
• Total realised options profit and loss
• Net gains from derivatives
• Total fees and charges

Other Income and Expense Summary

This section covers income from crypto sources not classified as capital gains, along with related expenses.

Income includes airdrops, rewards, staking, mining, salary, and consultancy payments. Expenses may include margin/funding interest, mining-related costs, donations, and consultancy fees.

• Total income from airdrops, rewards, staking, mining, salary, and consultancy
• Total deductible expenses, gifts, and donations
• Net other income

Assets wise Profit and Loss for the year

This section provides a token-by-token breakdown of profits and losses for the year.

• Gross profit per asset
• Gross loss per asset
• Net gain per asset

Schedule VDA Report

The Schedule VDA Report provides a structured summary of crypto transfers that are taxable under Schedule VDA for the selected financial year. This section helps users identify the exact figures required to be disclosed under Schedule VDA in the Income Tax Return. It contains a transaction-wise record of crypto transfers that fall under Schedule VDA reporting requirements. For each transaction, the following details are shown:

• Serial no
• Particulars (Name of the crypto asset)
• Date of acquisition
• Date of transfer
• Head of income
• Cost of acquisition
• Consideration received
• Income from VDA
• Note: Cost of acquisition excludes brokerage and other fees.

Year Beginning Balance of Assets

This section shows coin-wise start of the year holdings with valuation. It reflects the assets held at the beginning of the financial year based on available transaction history and balances.

For each asset, the following details are provided:

• Asset Name
• Quantity
• Cost
• Value
• Remarks (if any)

Year End Balance of Assets

This section shows coin-wise end of the year holdings with valuation. It reflects the assets held at the end of the financial year after accounting for all transactions during the year.

For each asset, the following details are provided:

• Asset Name
• Quantity
• Cost
• Value
• Remarks

Capital Gains Transactions

This section provides detailed records of all disposals with Purchase and sale dates, quantity, and gain/loss.

• Date of acquisition
• Date of sale/transfer
• Asset and quantity
• Purchase value (INR)
• Sale value (INR)
• Gain or loss

Crypto Derivatives Transactions

This section lists individual futures and options trades, showing net gain/loss per transaction.

• Asset
• Quantity
• Net gain/loss
• Transaction type (futures or options)

Other Income Transactions

This section lists additional income or expense events, such as airdrops, staking, mining, consultancy, donations, and borrow/lending profits or fees.

• Airdrops and rewards
• Mining income and expenses
• Consultancy income and expenses
• Donations
• Borrow/lending-related losses or fees

Data Sources

This section lists the exchanges, wallets, and other platforms from which your transaction data was imported.

• Exchange names
• Wallet addresses and labels
• Custom file imports

Summary

KoinX tax reports for India provide:

• A complete record of your crypto activity in line with Income Tax Act, 1961
• Clear classification of income and capital gains for accurate filing
• Capital gains calculation under FIFO method
• Inclusion of crypto-to-crypto transactions as taxable events
• Support for other income categories such as mining, staking, salaries, and consultancy
• Full transaction audit trail for transparency and compliance

Disclaimer: All figures are based on available data and user preferences at the time of report generation. Always verify figures and consult a qualified tax professional for compliance with Indian tax laws.