Dear Sir/Madam,
One of our client earns income receipts by investing crypto during the financial year 2022-23. The income is deducted TDS of 1% of on the total payout.
How can we show in the ITR.
How we can treat this (Capital Gain or Business Receipts)
Crypto Currency is define under section 2(47A) of the income tax Act as " Virtual digital asset" .
If you are investing then its capital Gain and you have report in - schedule VDA in ITR2 .
If you are trading then it's business income and you have to report in - schedule VDA in ITR3 .
Take others opinion as well.
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