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.
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