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Crypto Consulting Services in India – VDA Tax, Section 115BBH, TDS & Web3 Compliance
Cryptocurrency and Virtual Digital Asset (VDA) taxation in India became a defined regulatory reality from Financial Year 2022-23, with the introduction of Section 115BBH (flat 30% tax on VDA income), Section 194S (1% TDS on VDA transfers above ₹50,000 / ₹10,000), and the mandatory Schedule VDA in ITR. Whether you are a retail crypto investor, an active trader on Indian or foreign exchanges, a DeFi participant, an NFT creator or buyer, a crypto miner, a Web3 startup, a blockchain business, or an institutional fund — your cryptocurrency gains, income, and transactions in India are now squarely within the income tax net, with the Income Tax Department actively using AIS / TIS, exchange data, and blockchain analytics to identify non-compliance.
Our crypto consulting team provides end-to-end advisory covering VDA income computation and ITR filing with Schedule VDA, Sec 115BBH tax planning (no loss set-off, no carry-forward, no deductions except cost of acquisition), Sec 194S TDS compliance for exchange operators and peer-to-peer traders, GST on crypto services, FEMA / RBI compliance for overseas exchange holdings and remittances, NFT and DeFi income classification, Web3 business structuring, crypto fund setup, tokenomics advisory, PMLA / FIU-IND compliance for VASPs, and international crypto tax treaties for NRIs and global investors. We bridge the gap between blockchain technology and Indian law.
30%
Flat Tax on VDA Gains – Sec 115BBH
1%
TDS on Crypto Transfer – Sec 194S
Schedule VDA
Mandatory ITR Disclosure
FY 2022-23
VDA Tax Regime Effective From
Key Provisions & Regulations We Work Under
Sec 115BBH – 30% VDA Tax
Sec 194S – 1% TDS
Schedule VDA – ITR
Sec 2(47A) – VDA Definition
Sec 56(2)(x) – Crypto Gifts
FEMA 1999 – Forex / Overseas
GST on Crypto Services
PMLA / FIU-IND – VASP
RBI Circular – LRS
Sec 139 / AIS – Disclosure
Crypto Consulting Areas at a Glance
Tax – Sec 115BBH
VDA Income Tax & ITR Filing
30% flat tax on profits from sale / transfer of any VDA; no set-off against other income; no loss carry-forward; no deductions except cost of acquisition; Schedule VDA in ITR-2 / ITR-3.
- 30% + surcharge + cess
- Cost of acquisition only
- No set-off / carry-forward
- Schedule VDA computation
- ITR-2 / ITR-3 filing
- Exchange-wise P&L statement
TDS – Sec 194S
Crypto TDS Compliance
1% TDS on VDA transfer above ₹50,000 (₹10,000 for specified persons); exchange operators deduct at source; P2P traders must deduct; Form 26QE / 26Q reporting; ITNS 281 deposit.
- 1% TDS on transfer
- ₹50K / ₹10K threshold
- Form 26QE filing
- Exchange TDS advisory
- P2P trader compliance
- TDS credit in 26AS
DeFi / Staking
DeFi, Staking & Yield Income
Staking rewards, liquidity mining, yield farming, airdrops, hard forks — income classification (capital gains vs business income vs other sources); VDA tax applicability; AIS matching.
- Staking reward taxation
- Airdrop income rules
- Hard fork treatment
- Liquidity pool P&L
- DeFi protocol reporting
- AIS / TIS reconciliation
NFT
NFT Creation, Sale & Royalties
NFT minting cost, sale proceeds — VDA Sec 115BBH or business income depending on frequency; royalty income from NFT resale under Sec 194-O / 194Q; GST on NFT services; creator vs collector treatment.
- NFT creator – business income
- NFT investor – VDA / CG
- Royalty Sec 194-O
- GST on NFT services
- Minting cost treatment
- Marketplace TDS
Crypto Mining
Crypto Mining Income
Mining rewards — business income (recurring) or other sources (occasional); deduction for electricity, hardware, depreciation; GST registration for mining services; FEMA for overseas pool income.
- Mining = business income
- Hardware depreciation
- Power cost deduction
- GST on mining
- Overseas pool FEMA
- ITR-3 / Schedule BP
Web3 Business
Web3 Startup & Blockchain Business
Entity structuring for Web3 startups — Pvt Ltd vs LLP vs offshore; token issuance (ICO / IDO) regulatory framework; DPIIT Startup India recognition; VC funding, SAFTs, convertible notes; FEMA ODI / FDI.
- Entity structuring
- Token economics advisory
- ICO / IDO compliance
- FEMA FDI / ODI rules
- DPIIT Startup recognition
- VC / fund structure
FEMA / RBI
FEMA & Overseas Crypto Holdings
Holding crypto on foreign exchanges — LRS remittance limits, Schedule FA (Foreign Assets) disclosure in ITR, FEMA compounding for violations, overseas VDA investment rules, repatriation advisory.
- LRS $250K limit
- Schedule FA disclosure
- Foreign exchange reporting
- FEMA compounding
- RBI TCS on LRS
- Repatriation strategy
VASP / PMLA
VASP Compliance & AML / KYC
Virtual Asset Service Provider registration with FIU-IND; AML / KYC policy drafting; CTR / STR reporting obligations; PMLA compliance framework; RBI / SEBI engagement strategy for exchanges and custodians.
- FIU-IND registration
- AML / KYC policy
- CTR / STR reporting
- PMLA compliance audit
- Exchange regulatory setup
- Internal audit framework
Key Crypto Tax Concepts at a Glance
Sec 2(47A)
What is a VDA?
Virtual Digital Asset — any information, code, number, or token generated through cryptographic means; includes cryptocurrency, NFTs, tokens; excludes gift cards, foreign currency, and CBDC.
Crypto IncludedNFT Included
Sec 115BBH
30% Flat Tax on VDA
All VDA gains taxed at 30% (+ 4% cess + applicable surcharge) regardless of holding period; no basic exemption benefit; no deduction except cost of acquisition; loss from VDA cannot set off any income.
30% FlatNo Set-Off
Sec 194S
1% TDS on Crypto Transfer
1% TDS on consideration for VDA transfer; threshold ₹50,000 (₹10,000 for specified persons); exchange operators deduct automatically; P2P traders self-deduct; Form 26QE for self-deduction.
1% TDSForm 26QE
Schedule VDA
Mandatory ITR Disclosure
All VDA transactions — buy, sell, swap, gifts received, staking rewards — must be disclosed in Schedule VDA in ITR-2 (salaried) or ITR-3 (business); date-wise, exchange-wise breakup required.
ITR-2 / ITR-3Date-wise
No Loss Set-Off
VDA Loss Restrictions
Loss from one VDA cannot be set off against profit from another VDA, or against any other head of income; losses also cannot be carried forward to future years — unique restriction under Sec 115BBH.
No Inter-VDANo Carry-Forward
Crypto Gifts
Sec 56(2)(x) – Gifted VDA
VDA received as gift from non-relative above ₹50,000 — taxable as "other sources" at slab rate; from "relative" — exempt; subsequent sale taxed at 30% under Sec 115BBH with giftor's cost as base.
Non-Relative TaxableRelative Exempt
AIS / TIS
Exchange Data in AIS
CBDT receives VDA transaction data from Indian exchanges (WazirX, CoinDCX, Zebpay, etc.) which reflects in AIS / TIS; non-disclosure or mismatch triggers automated notice; foreign exchange data via CRS/FATCA.
Exchange DataCRS / FATCA
Crypto Swap
Crypto-to-Crypto Exchange
Swapping one cryptocurrency for another (e.g., BTC to ETH) is treated as a "transfer" and is a taxable event under Sec 115BBH; fair market value of asset received is the sale consideration.
Taxable EventFMV as Value
GST on Crypto
GST on Crypto Services
Exchange services — 18% GST on trading fees; crypto consulting / advisory — 18% GST; mining services — potentially taxable; NFT marketplace fees — 18% GST; cross-border crypto services — LUT / zero-rated.
18% GSTExchange Fees
Schedule FA
Foreign Crypto Assets Disclosure
Crypto held on foreign exchanges (Binance, Kraken, Coinbase) must be disclosed in Schedule FA (Foreign Assets) in ITR; non-disclosure = Black Money Act violation with steep penalties and prosecution risk.
Schedule FABlack Money Act
Crypto & VDA Tax Rates, Thresholds & Compliance at a Glance
| Transaction / Income Type | Tax Provision | Tax Rate | Key Rule / Note |
|---|---|---|---|
| Sale / Transfer of Crypto / NFT | Sec 115BBH | 30% + 4% cess | No deduction except cost; no set-off; no carry-forward |
| TDS on Crypto Purchase / Transfer | Sec 194S | 1% TDS | Threshold ₹50K (₹10K specified); Form 26QE for P2P |
| Crypto Received as Gift (non-relative) | Sec 56(2)(x) | Slab rate (other sources) | If > ₹50K from non-relative; relative gifts fully exempt |
| Staking / Mining / Airdrop Rewards | Sec 115BBH / PGBP | 30% or slab rate | Classification depends on nature; FMV at receipt as income |
| Crypto Swap (BTC → ETH) | Sec 115BBH | 30% on gain | Treated as transfer; FMV of received coin = consideration |
| NFT Sale by Creator (frequent) | PGBP / Sec 115BBH | Slab / 30% | Business income if regular; VDA if occasional investor |
| Foreign Crypto Exchange Holding | Schedule FA + FEMA | Penalty if undisclosed | Black Money Act: ₹10L+ penalty; must disclose in ITR |
| GST on Crypto Exchange Fees | CGST Act | 18% GST | On trading fees, platform fees, advisory charges |
| Crypto Business – Company / LLP | Sec 115BAA / Normal | 22% / 25–30% | Business income rules; Sec 115BBH applies to non-business VDA |
Our Crypto Consulting Services
VDA Tax Computation & ITR Filing
Trade-by-trade P&L computation from exchange statements, Schedule VDA preparation, ITR-2 / ITR-3 filing; AIS / TIS reconciliation; TDS credit matching under Sec 194S.
Crypto Tax Planning – Sec 115BBH
Advance tax planning on VDA gains; gain vs loss positioning; cost of acquisition optimisation; timing of sale planning; regime interaction; multi-year crypto tax strategy.
TDS Compliance – Sec 194S
1% TDS advisory for exchanges, P2P traders, and crypto businesses; Form 26QE preparation; ITNS 281 deposit calendar; 26Q quarterly return inclusion; TRACES compliance setup.
DeFi, Staking & Yield Tax
Income classification for staking rewards, liquidity mining, yield farming, airdrops, and hard forks; ITR disclosure strategy; AIS / TIS reconciliation for on-chain income.
NFT Tax & Creator Advisory
NFT minting cost treatment, creator vs investor classification, royalty income reporting, marketplace TDS compliance, GST on NFT services, platform fee deductibility.
Crypto Mining Tax & GST
Mining income classification (business / other sources), hardware depreciation, electricity cost deduction, ITR-3 Schedule BP filing, GST registration and returns for mining entities.
Web3 Business Structuring
Entity setup for Web3 startups — Pvt Ltd / LLP / offshore; token issuance framework; DPIIT Startup India recognition; VC / SAFT structuring; FEMA FDI / ODI advisory.
FEMA & Foreign Exchange Compliance
LRS remittance for overseas crypto investment, Schedule FA / FSI disclosure in ITR, FEMA violation compounding, repatriation of crypto proceeds, RBI TCS on LRS advisory.
VASP Registration & AML Compliance
FIU-IND VASP registration, AML / KYC policy drafting, CTR / STR reporting framework, PMLA compliance audit, internal controls for crypto exchanges and custodians.
GST Advisory for Crypto Businesses
18% GST on exchange fees, advisory services, token sale classification, NFT marketplace GST, LUT for export of crypto services, GST audit and return filing for Web3 entities.
NRI & Global Crypto Tax
Residential status determination, RNOR window for returning Indians, tax treaty (DTAA) analysis on crypto income, foreign account / exchange disclosure, Schedule FA / CRS / FATCA compliance.
Crypto Notice & Scrutiny Defence
IT Department crypto notice response (Sec 133(6) / 148 / 142(1)), AIS mismatch rectification, reassessment defence, penalty mitigation under Sec 270A, voluntary disclosure strategy.
When Do You Need Crypto Consulting Support?
First Time Filing Crypto Taxes
If you traded, staked, or received crypto during the year, Schedule VDA disclosure in ITR is mandatory — non-filing or wrong disclosure risks notices and penalties.
Received an IT Notice on Crypto
CBDT is issuing notices based on exchange data in AIS — Sec 133(6) / 148 notices for non-disclosure; immediate expert response and voluntary disclosure required.
Large Crypto Gains / Losses in FY
Gains above ₹50,000 from VDA, advance tax planning, and correct P&L computation from multiple exchanges and wallets — professional crypto CA advisory essential.
Crypto Held on Foreign Exchanges
Binance, Kraken, Coinbase, Bybit holdings must be disclosed in Schedule FA; LRS limits, FEMA compliance, and Black Money Act exposure — urgent advisory needed.
Starting a Web3 / Crypto Business
Entity structuring, token issuance compliance, VASP registration, PMLA / FIU obligations, GST registration, DPIIT Startup recognition — expert Web3 advisory from Day 1.
Running a Crypto Exchange / Platform
Sec 194S TDS deduction, FIU-IND VASP registration, AML / KYC compliance, PMLA obligations, GST on fees, ITR filing for the entity — full regulatory compliance suite required.
DeFi, NFT or Mining Income
On-chain income from staking, yield farming, NFT sales, mining rewards — complex income classification, AIS reconciliation, and ITR disclosure require specialist crypto tax knowledge.
NRI Returning to India with Crypto
RNOR window planning, residential status determination, DTAA analysis on crypto gains, Schedule FA carry-forward, repatriation strategy — specialised NRI crypto advisory required.
Documents Required for Crypto Tax Filing & Consulting
Exchange & Wallet Records
- Trade history from all Indian exchanges (WazirX, CoinDCX, Zebpay, etc.)
- Trade history from foreign exchanges (Binance, Coinbase, Kraken, etc.)
- On-chain wallet transaction history
- DeFi protocol transaction logs
- Staking / reward statements
- NFT minting & sale receipts
- Mining pool income statements
Tax & Income Records
- Form 26AS / AIS / TIS (crypto section)
- TDS certificates (Form 16A / 26QE)
- Prior year ITR with Schedule VDA
- Advance tax challan receipts
- GST returns (if applicable)
- Bank statements for crypto purchases
- P2P trade screenshots / agreements
Business & Overseas Records
- Entity incorporation documents (Web3 startup)
- Token sale / ICO agreements
- FEMA / LRS remittance proof
- Foreign bank / exchange account details
- Schedule FA details (prior years)
- VASP registration documents (FIU-IND)
- AML / KYC policy documents
Our Crypto Consulting Engagement Process
1
Crypto Portfolio Review
Collect all exchange statements, wallet history, DeFi logs, and NFT records; identify all taxable events across Indian and foreign platforms.
2
P&L Computation
Trade-by-trade gain / loss calculation using FIFO / LIFO / weighted average; VDA-wise breakup; AIS / TIS cross-matching; TDS credit verification.
3
Tax & FEMA Strategy
Advance tax planning, Schedule FA / VDA disclosure strategy, FEMA / LRS compliance review, VASP obligations, GST applicability assessment.
4
ITR & Return Filing
Schedule VDA preparation, ITR-2 / ITR-3 filing, GST return filing, TDS return (26Q / 26QE), FEMA compounding if required, voluntary disclosure filing.
5
Ongoing Compliance
Quarterly TDS / GST calendar, AIS monitoring, advance tax schedule, notice watch, annual ITR refresh, crypto regulatory update advisory.
Why Choose Us for Crypto Consulting Services
✓
Deep expertise in Sec 115BBH & Schedule VDA✓
Multi-exchange P&L computation & AIS reconciliation✓
DeFi, NFT, staking & mining income expertise✓
Sec 194S TDS compliance for exchanges & P2P✓
FEMA / RBI / Schedule FA foreign crypto advisory✓
Web3 business structuring & VASP compliance✓
IT notice defence & voluntary disclosure support✓
Year-round crypto advisory + ITR & GST filingFAQs on Crypto Tax & Consulting in India
How is cryptocurrency taxed in India under Section 115BBH?
From FY 2022-23 onwards, all income from transfer of Virtual Digital Assets (VDA) — including cryptocurrency, NFTs, and tokens — is taxed at a flat 30% under Section 115BBH, plus 4% health and education cess and applicable surcharge. The only deduction permitted is the cost of acquisition; no other expenses, no set-off of VDA losses against any other income (or even against other VDA profits), and no carry-forward of losses to future years.
Do I need to disclose crypto in my ITR even if I made a loss?
Yes — all VDA transactions (including loss-making trades, swaps, gifted crypto, staking rewards, and airdrops) must be disclosed in Schedule VDA of your ITR (ITR-2 for salaried / ITR-3 for business income). The Income Tax Department receives exchange data directly in AIS / TIS, and non-disclosure — even of loss transactions — can trigger a notice under Sec 133(6) or 148. Voluntary and accurate disclosure is always advisable.
What is the 1% TDS on crypto under Section 194S?
Section 194S requires 1% TDS to be deducted on the consideration for any transfer of a VDA exceeding ₹50,000 in a financial year (₹10,000 for specified persons — individuals with business turnover above ₹1 crore or professional receipts above ₹50 lakh). Indian crypto exchanges deduct this automatically. For peer-to-peer (P2P) trades, the buyer must deduct and deposit TDS using Form 26QE. The TDS credit appears in the seller's Form 26AS.
Can I set off my crypto losses against crypto profits or other income?
No — Section 115BBH explicitly prohibits setting off any loss arising from the transfer of a VDA against income from any other source, including profit from another VDA. For example, if you made a profit of ₹1 lakh on Bitcoin and a loss of ₹80,000 on Ethereum, you cannot net them; you pay 30% tax on ₹1 lakh and the ₹80,000 loss is simply lost. Losses also cannot be carried forward to future assessment years.
Is swapping one cryptocurrency for another a taxable event in India?
Yes — a crypto-to-crypto swap (e.g., exchanging Bitcoin for Ethereum) is treated as a "transfer" under the Income-tax Act and is a taxable event under Section 115BBH. The fair market value (FMV) of the cryptocurrency received at the time of the swap is treated as the sale consideration, and the cost of the cryptocurrency given up is the cost of acquisition. The gain (if any) is taxed at 30%.
Do I need to pay tax on crypto held on foreign exchanges like Binance or Coinbase?
Yes — Indian tax residents must disclose all foreign cryptocurrency holdings in Schedule FA (Foreign Assets) of their ITR, regardless of whether they have sold the crypto or not. Gains from sale of crypto on foreign exchanges are taxable in India under Section 115BBH. Failure to disclose foreign crypto assets attracts penalties under the Black Money (Undisclosed Foreign Income and Assets) Act — ₹10 lakh or more per undisclosed asset — and potential prosecution. FEMA compliance for the original remittance used to purchase must also be verified.
Is staking income and airdrop income taxable in India?
Staking rewards and airdrop income are taxable in India, though their exact characterisation is still evolving. Most tax advisors treat staking rewards received as income taxable under "other sources" (or as business income if staking is systematic) at the fair market value on the date of receipt. The subsequent sale of staked / airdropped tokens is taxed at 30% under Section 115BBH on the gain above the FMV already taxed at receipt. These transactions must be disclosed in Schedule VDA.
What are the VASP compliance requirements for crypto exchanges in India?
Following India's PMLA amendment in March 2023, crypto exchanges, custodians, wallet providers, and other Virtual Asset Service Providers (VASPs) are required to register with the Financial Intelligence Unit – India (FIU-IND), implement a full AML / KYC framework, file Suspicious Transaction Reports (STRs) and Cash Transaction Reports (CTRs), maintain records, and comply with ongoing PMLA obligations. Non-registered VASPs are prohibited from operating in India and face penalties under PMLA.
Navigate Crypto Tax. Build Web3. Stay Compliant.
Partner with our crypto consulting experts for end-to-end VDA tax computation, Schedule VDA ITR filing, Sec 194S TDS compliance, DeFi / NFT / staking advisory, FEMA / Schedule FA disclosure, Web3 business structuring, VASP registration, and year-round crypto regulatory advisory.
Talk to a Crypto Consultant