Schedule VDA: reporting crypto in your ITR
Schedule VDA requires each virtual digital asset transfer to be reported individually — date of acquisition, date of transfer, cost of acquisition and sale consideration. Gains are taxed at 30% plus cess, and TDS already deducted is claimed as credit elsewhere in the return.
Schedule VDA is not a summary box. It expects the transfers, one by one. That is why record keeping during the year, rather than in July, is the whole game.
What it asks for, per transfer
- 1Date of acquisition
- 2Date of transfer
- 3Cost of acquisition in INR
- 4Consideration received in INR
- 5Income from the transfer — the difference, where positive
How P2P trades map onto it
Each completed order is a transfer. A sale of USDT for INR is the taxable event; the cost of acquisition is what you paid when you originally bought that USDT. If you bought in several lots, you need a consistent method for matching lots to sales and should apply it for the whole year.
30% crypto tax calculator (Section 115BBH)
Gains on virtual digital assets are taxed at a flat 30%, plus 4% cess on the tax — 31.2% effective.
Informational only, not tax advice. Surcharge may apply at higher income levels. Only the cost of acquisition is deductible — no expenses, and a loss on one coin cannot be set off against a gain on another.
Where TDS credit goes
TDS deducted under Section 194S is not entered in Schedule VDA. It is claimed as tax credit in the return's TDS schedule and should match what appears in your Form 26AS / AIS. A mismatch is one of the most common reasons a crypto return draws a query.
Checks before you submit
- Every transfer listed, none netted off.
- Cost of acquisition supported by an actual record, not an estimate.
- TDS claimed matches Form 26AS / AIS.
- Amounts in INR, converted consistently.
Exportable order history means your Schedule VDA rows already exist.
Trade on FastXP2PFrequently asked questions
Do I have to report crypto if I made a loss?
Yes. The transfers still have to be reported. Losses simply cannot be set off against other gains or carried forward.
Which ITR form do I use for crypto?
It depends on your overall income sources, but VDA income is reported in Schedule VDA within the applicable form. A CA can confirm which form fits your situation.
What if my TDS does not appear in Form 26AS?
It usually means the buyer deducted but never filed Form 26QE. Ask them for the challan; without the filing you cannot claim the credit.
- ITR
- Schedule VDA
- filing