Section 115BBH Query
Bitcoin Gain: ₹1,00,000
Ethereum Loss: ₹40,000
As per Section 115BBH, loss from one VDA cannot be set off against gain from another VDA.
However, if the transactions are:
Bitcoin Gain: ₹1,00,000
Bitcoin Loss: ₹40,000
Can the loss be adjusted against the gain since both transactions relate to the same VDA (Bitcoin), resulting in taxable income of ₹60,000?
Any CBDT clarification, case law, or expert view would be appreciated.
SME IPO: Preferred for lower costs, faster timelines, and strategic credibility-building before eventual "up-listing."
Form 10E: You may manually override incorrect automated values, provided you keep a meticulous, documented working sheet.
Surcharge: Triggered by "Total Income," which usually includes capital gains before exemptions like Section 54 are applied.
ITR-3: Ensure you correctly distinguish between Gross Profit (from Trading Account) and Net Profit (from P&L Account).
Crypto: Under Section 115BBH, losses from VDAs cannot be set off against any income, including gains from the same or other VDAs.
Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
View Details
KK & Company Chartered Accountant
Pune
CA Inter
View Details
Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
View Details
CCI
Pro
CAclubindia
