Menu
Cryptocurrency transaction and treatment in ITR
Sir, I have crypto currency transaction, and company deducted TDS u/s 194S, where I put crypto currency transaction in my ITR, pls
Replies (4)
Quick Summary
In 'Schedule VDA' in ITR 2/3.
Thanks Sir
You are welcome.
Crypto in the ITR:
• Report VDA (crypto) transactions in Schedule VDA (ITR-2 or ITR-3): date of acquisition, date of transfer, cost of acquisition, sale consideration. Gains are taxed at 30% (Sec 115BBH). Losses can't be set off or carried forward.
• 194S TDS (1%) deducted by exchanges: claim it in Schedule TDS2 (TDS from other than salary), with the deductor's TAN.
• If the crypto was held as stock-in-trade (trading business), still 115BBH (the special rate applies regardless of head).
Recent Topics :
- TDS ON IMMOVABLE PROPERTY - PURCHASE FROM NRI &
- Query to Tax Garden tax consultant
- Subject: Urgent Assistance Required – TRACES
- Claiming business re-imbursements while filing GST
- E-waybill 14 Digit Numbring
- Non filing of MGT-14 for MD appointment
- HUF AFFIDAVIT vs HUF DEED - REQUIREMENTS & STA
- Free Pre-Filing Tool to Match GSTR-3B vs GSTR-2B (
- MR AASHOK KUMAR SHARMA
- NIC codes for FIRMS registration of entity
Related Topics :
CAclubindia
