File Income Tax Return For Cryptocurrency
Easily file your Income Tax Returns (ITR) for Cryptocurrency trading or investment in India from the comfort of your home. Our 100% online CA-assisted ITR Filing service in India makes the process hassle-free. It is mandatory to file taxes within the due date, but with our assistance, you can stay compliant. Whether you are an individual or a business, we can assist you with your ITR. Get in touch with us today.
File Income Tax Return For Cryptocurrency Trading or Investing
ITR filing is an annual obligation that applies to all types of taxpayers, including Companies, Partnerships, and Individuals. Whether you are a active trader in crypto markets or a passive investor in cryptocurrency, it is mandatory for you have to file your Income Tax Return. The way income is taxed varies depending on the type of taxpayer. We have designed straightforward packages for filing income tax returns, making the process easy to comprehend. It's important to note that we provide genuine CA Assisted ITR Filing Services.
How it works
- Contact us here and provide basic details such as PAN Card, Aadhar Card, etc
- Speak with our Tax specialist about your case details
- Send us the documents via WhatsApp or email
- Our Tax expert will calculate your Crypto Gains/Losses, prepare Tax Computation and file your Income Tax Return. In the process, we will also share the draft of the computation for your review.
- e - Verify your ITR and complete the process of tax filing
- We will then share the copy of Filed Income Tax Return of cryptocurrency with you.
Contact us via WhatsApp: Click Here or Email: info@mnpartners.in
List of Required Documents
You only need to provide only those documents which are applicable to you. No original documents are required to attach in tax returns for Financial Year 2024-25.
- Income from Salary (if applicable) - Form(s) 16, 16A, 16AA / Salary Certificate(s) issued by the Employer(s) for the Financial Year 1st April 2024 - 31st March 2025.
- Income from House Property (if applicable) - Rent receipts, interest certificates for home loans (if any).
- Income from Business and Profession (if applicable) - Bank Statements, Books of accounts (if maintained), Balance sheet and Profit Loss accounts if the company is a sole proprietorship.
- Income from Capital Gains (if applicable) - Sale proceed details of assets resulting in capital gains or losses within the FY 2024-25. This also includes transactions done in stocks and equity markets. Crypto Transactions from India and International Exchanges. Transactions from Crypto Wallets or Wallet Addresses so that we can pull the transactions on our end.
- Income from Other Sources (if applicable) - Interest Certificates from investments or any other transactions.
- Income from Family (if applicable) - If you have any investments done by you on behalf of your dependent family members and any income arises from those would be taken in your account.
- Tax Deductions - Any investments or donations or transactions done for deductions under sec 80 like insurance policy, deposits in PPF, ELSS, Infrastructure Bonds purchase receipts etc.
- TDS/ Advance Tax challans (if paid) to avail tax refund
- Photocopy of PAN Card (MANDATORY)
- Income Tax Portal Login Details (MANDATORY)
- Last year's Acknowledgement copy of Income Tax Returns
| # | TYPE OF TAXPAYER | DUE DATE | TAX AUDIT CASES |
1 | Company | 30 Sep 2025 | 30 Sep 2025 |
2 | Limited Liability Partnership | 31 Jul 2025 | 30 Sep 2025 |
3 | Partnership | 31 Jul 2025 | 30 Sep 2025 |
4 | Proprietor | 31 Jul 2025 | 30 Sep 2025 |
5 | Individual | 31 Jul 2025 | 30 Sep 2025 |
FAQs
What does self assessment mean?
Income tax return filing is a process of self-assessment where taxpayers need to calculate their taxable income earned during the previous year and the corresponding income tax payable. Prior to filing the return, the tax owed must be settled. This can be done online or by depositing a cheque or cash via Challan 280 at a bank.
In case a taxpayer misses the deadline for filing their income tax return, they can still submit it as a "belated income tax return" within the last date of the assessment year. However, any losses or accumulated depreciation cannot be carried forward, and it's important to note that a belated return cannot be revised in case of errors.
What is the Penalty For Not Filing The ITR?
Under section 139 of the Income Tax Act, 1961, filing an ITR is a mandatory requirement, and failure to do so can result in a penalty of up to Rs. 5,000/-. This penalty is in addition to any interest or other consequences that may arise due to non-payment of tax. However, if a taxpayer can demonstrate a valid reason to the satisfaction of the Income Tax Officer (ITO), the penalty may be waived off or reduced.
Latest Changes in Income Tax Law for Cryptocurrencies
Income Tax Updates for Cryptocurrencies in India (FY 2024-25)
- Increased Monitoring on TDS Compliance: The government plans stricter monitoring of the 1% TDS rule to ensure proper compliance by exchanges and investors.
- Capital Gains Classification Expected: Tax reforms may introduce separate tax rates for short-term and long-term crypto gains, pending parliamentary approval.
- Enhanced Reporting for Large Crypto Transactions: Investors making large crypto transactions may face additional reporting requirements, including transaction IDs and counterparties.
- Higher Penalties for Non-Disclosure: Non-compliance in declaring crypto holdings and income may attract penalties under updated provisions in the Income Tax Act.
- CBDT Guidelines on NFT Taxation: Clearer taxation rules for Non-Fungible Tokens (NFTs) are expected to align with existing crypto tax frameworks
Income Tax Updates for Cryptocurrencies in India (FY 2023-24)
- Flat Tax on Gains: Cryptocurrency profits are taxed at a flat 30%, with no deductions except for acquisition costs.
- 1% TDS on Crypto Transactions: Transactions exceeding ₹10,000 in a financial year are subject to 1% Tax Deducted at Source (TDS).
- No Set-Off for Crypto Losses: Losses incurred in crypto trading cannot be offset against gains from other sources.
- Mandatory ITR Disclosure: Crypto holdings and income must be reported in the "Income from Other Sources" section of the Income Tax Return (ITR).
- International Crypto Transactions: Cross-border crypto transactions are scrutinized for compliance with FEMA and taxed at applicable rates.
Prior Year Updates:
- Indian investors trading in crypto/NFTs must declare income as capital gains for investments or business income for trading purposes.
- The new Income Tax Return (ITR) forms for FY 2022-23 feature a dedicated section called Schedule - Virtual Digital Assets (VDA) for reporting gains from crypto/NFTs and other VDAs.
- The deadline for filing income tax returns for FY 2022-23 is July 31, 2023, with a belated return option available until December 31, 2023.
- Clarification on proposed Section 115BBH in Budget 2022:
- Losses from one virtual digital currency cannot offset income from another.
- Infrastructure costs for mining crypto assets aren't considered acquisition costs.
- Union Budget 2022 Outcome:
- Digital assets, including crypto, categorized as "Virtual Digital Assets."
- Income from their transfer taxed at 30%.
- Only the cost of acquisition deductible, no other deductions allowed.
- Losses from digital assets not offsettable against other income.
- Gifting digital assets incurs tax on the receiver.
- 1% TDS on all Virtual Digital Assets (VDAs) sell transactions from July 1, 2022.
How can I file the ITR by myself?
Free Samples
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