India - Complete Tax Report

AI Summary

The Complete Tax Report is the most detailed report for Indian crypto taxpayers
Structured to match Indian tax rules including Schedule VDA under the Income Tax Act, 1961
Includes capital gains, derivatives income, other crypto income, TDS summary, and asset balances
Contains transaction-level audit data your CA needs for ITR filing
Uses your selected cost accounting method (FIFO, LIFO, HIFO or Average Cost)
If you share just one report with your CA, this is usually the one

This is the most comprehensive report available for Indian users on KoinX. It compiles all your crypto tax information into a single document formatted for Indian tax regulations under the Income Tax Act, 1961. The report includes capital gains from crypto trades, derivatives income, other crypto income, TDS summary, and asset balances, along with detailed transaction records your CA can use while filing your ITR.

Report Sections Overview

Section	Purpose
Cover Page	Report metadata and user information
Tax Settings and Customisations	Settings used to generate the report
Summary of Capital Gains	Total gains from crypto disposals
Summary of Income from Crypto Derivatives	Futures and options trading income
Summary of Other Incomes / Other Expenses	Airdrops, rewards, staking, etc.
Summary of Asset Wise P&L	Profit/loss broken down by each coin
Schedule VDA Transactions	Transaction-level data for Schedule VDA
Detailed Beginning of Year Balance	Holdings at start of financial year
Detailed End of Year Balance	Holdings at end of financial year
Capital Gains Transactions	Detailed trade-level records
Crypto Derivatives Transactions	Futures and options trade details
Other Transactions	Income events like staking or airdrops
Data Sources	Exchanges, wallets, and files used

1. Cover Page

Provides the basic metadata of the report:

User name
Country (India)
Reporting currency (INR)
Report generation date
Financial year covered
Cost accounting method used
List of sections in the report
Disclaimer

2. Tax Settings and Customisations

Shows exactly how the report calculations were performed, based on the settings you selected in Tax Settings and Transaction Preferences. Change these settings in Customising Your Reports

Setting	Example	Impact
Country	India	Determines tax report structure
Reporting Currency	INR	All values converted to INR
Cost Method	FIFO	Determines cost basis calculation
Treat Airdrops as Income	Enabled	Airdrops treated as income at receipt
Treat Rewards as Income	Enabled	Staking rewards treated as income at receipt
Treat Crypto-to-Crypto Trades as Taxable	Enabled	Swaps treated as taxable disposals
Offset Brokerage Fees	Disabled	Fees excluded from cost basis
Treat Interest as Income	Enabled	Staking Interest will be treated as income upon receipt.
Treat Lost as Sale	Disabled	lost assets will be treated as Other Expense.
Treat External Deposit as Income	Disabled	If this setting is turned on, external deposits will be treated as income upon receipt
Treat External Withdrawal as Sale	Disabled	If this setting is turned on, external withdrawals will be treated as sale upon disposal.
Treat Loan Repayment as Sale	Disabled	If this setting is turned on, loan repayments will be treated as sale.

This section is useful when your CA wants to verify the calculation logic behind the report.

3. Summary of Capital Gains

Summarises all taxable crypto disposals during the financial year.

Field	Example	What it Means
Number of Transfers	10,483	Total taxable disposals
Sale Consideration	Rs. 1,92,83,435.93	Total amount received from all sales
Cost of Acquisition	Rs. 1,88,75,869.32	What you originally paid for those assets
Taxable Capital Gains	Rs. 5,39,173.78	Gross Gains
Losses	Rs. 1,31,607.16	Losses on individual transactions

Example trades:

Trades	Bought For	Sold For	Gains
BTC	₹82,50,000	₹84,90,000	+₹2,40,000
ETH	₹54,20,000	₹55,35,000	+₹1,15,000
SOL	₹27,10,000	₹27,75,000	+₹65,000
Other altcoin trades	₹24,95,869.32	₹24,83,435.93	-₹12,433.39
Loss-making trades (various tokens)	₹1,00,000	₹(loss realised)	-₹1,19,173.77

Tax Calculation (India)

Under Indian crypto taxation rules:

Tax Rate: 30% on gains
Tax on Gains:
₹4,20,000 × 30% = ₹1,26,000
Health & Education Cess (4%)
₹₹5,040

Total Tax Payable

**₹**1,31,040

Under Section 115BBH, crypto losses cannot be offset against gains or any other income. Loss trades still appear in the report but Income from VDA is shown as Rs. 0.

4. Summary of Income from Crypto Derivatives

Summarises profits and losses from crypto futures and options trading. Derivatives are reported separately from spot trades because they involve different calculations such as funding fees, brokerage charges, and trading turnover.

Field	Example
Total Realised Futures Profit	Rs. 25,11,621.67
Total Realised Futures Losses	Rs. 46,29,045.70
Total Futures Turnover	Rs. 71,40,667.37
Total Brokerage Fee for Futures	Rs. 4,21,329.44
Funding Interest Received	Rs. 15,952.32
Funding Fees Paid	Rs. 64,705.20
Gross Gains from Futures	-Rs. 21,66,176.90
Net Gains from Futures	-Rs. 25,87,506.35
Total Realised Options Profit	Rs. 12,000
Total Realised Options Losses	Rs. 10,000
Total Options Turnover	Rs. 22,000
Total Brokerage Fee for Options	Rs. 500
Net Gains from Options	Rs. 1,500

Real Example: You traded BTC perpetual futures on an exchange:

Position	Entry	Exit	P&L
Long 0.1 BTC	₹52,00,000	₹54,50,000	+₹25,000
Short 0.1 BTC	₹55,00,000	₹53,00,000	+₹20,000
Long 0.05 BTC	₹54,00,000	₹51,00,000	-₹15,000

Net Derivatives Income: ₹30,000

💡 Note: If your derivatives turnover exceeds ₹1 crore, you may need a tax audit. Consult your CA.

Key terms: Futures Turnover is calculated as the sum of realised profits and realised losses from futures trading. Funding Interest applies to perpetual futures contracts, where traders either pay or receive funding fees depending on market conditions. Funding Interest Received is income; Funding Fees Paid are expenses. Gross vs Net Gains is the profit before and after deducting brokerage fees respectively.

Derivatives income may be treated as business income depending on the nature and frequency of your trading activity. Consult your CA for the correct tax treatment in your situation.

5. Summary of Other Incomes / Other Expenses

Captures crypto received as income rather than through trading. Common examples:

Category	Example Amount
Airdrops	Rs. 4,272.54
Rewards received	Rs. 2,814.35
Staking Rewards	Rs. 3,09,355.01
Profit on Borrow	Rs. 76.62

Real Example: You staked 10 SOL for the year and received 0.8 SOL as rewards (worth ₹14,000 at time of receipt). You also received a random airdrop of 500 XYZ tokens (worth ₹2,500 at receipt).

Event	Value at Receipt
Staking: 0.8 SOL	₹14,000
Airdrop: 500 XYZ	₹2,500
Total Other Income	₹16,500

This ₹16,500 is taxable as income. When you eventually sell those SOL rewards or XYZ tokens, you’ll also pay capital gains tax on any additional appreciation. ⚠️ Double taxation alert: You’re taxed once when you receive rewards (as income) and again when you sell (as capital gains on appreciation beyond the receipt value). Expenses such as margin interest or operational costs also appear in this section.

6. Summary of Asset Wise P&L

Shows profit and loss per cryptocurrency asset.

Asset	Gross Profit	Gross Loss	Net Gains
ETH	Rs. 2,10,372.88	Rs. 78,010.93	Rs. 1,32,361.95
ZK	Rs. 509.66	Rs. 0	Rs. 509.66

What this tells you:

ETH was your biggest winner (+1,32,361.95)
USDT was your biggest loser (-6,92,719.08)

💡 Tax planning insight: If you’re holding unrealized losses, consider tax-loss harvesting before March 31. But remember — in India, crypto losses can’t offset gains, so this is mainly for record-keeping. This helps identify which assets contributed to gains or losses during the year.

7. Schedule VDA Transactions

Transaction-level reporting required for Schedule VDA in your ITR.

Column	Description
S.No	Serial number
Particulars	Name of crypto asset
Date of Acquisition	When the asset was purchased
Date of Transfer	When the asset was sold
Head of Income	Capital Gains or Business Income
Cost of Acquisition	Purchase value
Consideration Received	Sale value
Income from VDA	Profit reported for tax purposes

Why Income from VDA Shows Rs. 0 for Loss Trades

Under Section 115BBH, crypto losses cannot be set off against gains or any other income. Loss trades are still recorded in Schedule VDA, but Income from VDA is shown as Rs. 0. Example:

Cost of Acquisition: Rs. 50,000
Sale Value: Rs. 32,000
Actual Loss: Rs. 18,000
Income from VDA reported: Rs. 0

8. Detailed Beginning of Year Balance

Shows your portfolio position at the start of the financial year, with quantity, cost in INR, value in INR, and average price per coin.

Why this matters:

Shows your starting position for the year
Helps verify that cost basis carry-forward is correct
Useful for audit trail and reconciliation

9. Detailed End of Year Balance

Shows your portfolio position on the last day of the financial year, with the same columns as the opening balance. Your CA may request both reports for reconciliation. What this tells you:

Shows your position at the end of year.
Help you keep a record for tax purposes.

10. Capital Gains Transactions

Detailed record of each disposal, including date purchased, date sold, asset, quantity, purchase value, sale value, gains or losses, source, and any remarks.

11. Crypto Derivatives Transactions

Individual futures and options trade records, including date, asset, quantity, net gain, type (Futures or Options), and remarks.

12. Other Transactions

Lists all income events such as airdrops, staking interest, and rewards, with date, asset, quantity, description, value, and remarks.

13. Data Sources

Lists all exchanges and wallets used to generate the report, including name, custom name, type, address (for wallets), and first and last transaction dates. 💡 Missing data? If an exchange isn’t listed here, those transactions aren’t in your report. Go to Integrations and add it before regenerating. How to add a missing integration

Understanding the Tax Calculation

Capital Gains (Section 115BBH)

Rule	Detail
Tax Rate	30% + 4% cess (31.2% effective)
Loss Set-off	Not allowed
Loss Carry Forward	Not allowed

TDS (Section 194S)

Rule	Detail
Rate	1%
Deducted by	Indian exchanges at point of sale
Credit	Claimed via Form 26AS reconciliation when filing ITR

Frequently Asked Questions

Does the Complete Tax Report replace Schedule VDA?

No. The Complete Tax Report provides full context and detail, while the Schedule VDA Report is formatted specifically for entry into the ITR filing portal. Your CA will typically use both. The Complete Tax Report is for understanding and verification; Schedule VDA is for the actual filing fields.

Why does my report show Rs. 0 income for some trades?

Loss trades show Rs. 0 income because under Section 115BBH, crypto losses cannot offset gains or other income. The trades are still recorded in the report for audit purposes, but the Income from VDA column shows Rs. 0 for any transaction where the sale value was lower than the cost of acquisition.

Can I regenerate the report after changing settings?

Yes. Once you purchase a plan for a financial year, you can regenerate reports unlimited times at no additional cost. Edit your transactions or change a setting, then regenerate.

What does 'Changed from Default' mean in the Tax Settings section?

It means one or more Tax Settings were modified from the default configuration. This is not an error. It simply informs your CA that custom settings were applied when generating the report.

Should I classify gains as Capital Gains or Business Income?

Both are taxed at 30% under current Indian VDA rules. The difference is how it appears in your ITR: Capital Gains goes under Schedule VDA, while Business Income can be entered under ITR 3. This is a classification decision based on your trading activity and how you intend to file. Consult your CA before changing this setting.

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