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Home > Income Tax > Crypto Tax Help Center > Crypto Tax CalculatorLast Updated: Aug 13th 2024

Crypto Tax Calculator

Calculate Income Tax, TDS & GST on Cryptos for investing and/or trading Cryptos like Bitcoin, Ethereum, XRP. Determines income tax, surcharge, education cess and GST based on the new tax rules applicable in India. Considers comprehensive aspects such as Residential Status, Jurisdiction of Crypto Exchange, Income Slab, Gifting, Lost Stolen cryptos.   Updated per latest Union Budget 2024


To calculate Crypto Gains from Exchange Ledgers or P&L Statements, Refer Crypto Gains Calculator for IT Filing


Your Details
Taxed on Global IncomeTaxed on Indian Income except foreign salary where the employer is from India.Taxed only on Indian Income
The entity with which crypto trading done is in IndiaThe entity with which crypto trading done is outside India
ResetDemo
Starting from FY 2021-22, Gains from Crypto or equivalent assets cannot be re-invested to reduce tax burden.
Crypto Trading Details
Sale Value
Enter the Sale Value greater than or equal to Zero.
Purchase Value
Have you given any cryptos as a gift to others during the Financial Year ?
Gift Value
Any Cryptos that were lost / stolen during the Financial Year ?
Lost / Stolen Value
Taxable LossGain{{taxable}}
As per new regulation on Crypto trading, no loss can be set-off against current or future gains. Hence above loss cannot participate in set-off.
Income Tax on Cryptos
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TDS on Cryptos to be deducted @ 1% by the intermediary *
{{ (juri=='ind')? (sale*0.01) : '0 *'}}
GST on Cryptos*
{{0}}

How Tax is Calculated ?
  • Income Tax rate is 0% as you have a loss in Crypto Trading
  • NRI's having Crypto account outside of India are required to consider the gains in their foreign jurisdictions
  • TDS or withholding tax would be deducted by the foreign country
  • TDS would be deducted by the intermediary in India.
  • Govt of India is yet to decide on the GST rate on Crypto trading and mining.
  • Income Tax rate is 0% as you have no gain in Crypto Trading
  • Income Tax rate is 30% and Education Cess is 4% = 31.2%
  • Income Tax rate is 30%, Surcharge is 10% and Education Cess is 4% = 34.32%
  • Income Tax rate is 30%, Surcharge is 15% and Education Cess is 4% = 35.88%
  • Income Tax rate is 30%, Surcharge is 25% and Education Cess is 4% = 39%
  • Income Tax rate is 30%, Surcharge is 37% and Education Cess is 4% = 42.744%
Conditions to Consider

  1. No affect of GST on Crypto trading as of yet but may need to consider and plan for GST when we consider your portfolio beyond crypto trading. (as on Mar 21st 2022)
  2. As crypto trading is an online business, jurisdiction of the intermediary plays a big role in assessing the income tax in India
  3. Residents with Foreign Tax ID (those who lived or stayed outside of India may have such like SSN in USA, TIN in Canada) crypto trading intermediaries also in the foreign jurisdiction, may need to go through DTAA agreement in India.
  4. Income Tax Slab to be selected as the calculator need to know the tax bracket you are in to determine the Surcharge and Education Cess rates.
  5. You have selected RNOR status. You are taxed on Indian Income except foreign salary where the employer is from India*.
  6. You have selected ROR status. You are taxed on Global Income
  7. You have selected NRI status. You are taxed only on Indian Income
  8. Crypto Intermediary: Intermediaries are the exchanges, developers, miners, brokers, or portals where you trade. Some of the popular crypto intermediaries are Binance, Hotcoin Global, Mandala Exchange, Currency.com, CoinFLEX, OKX, HitBTC, Coinbase, IndoEx, Deepcoin, Kraken, Wazirx.
  9. How to find whether an intermediary is operating in India or Outside of India?
    You may check with the intermediary directly and/or verify the legal address from their portal and select the appropriate jurisdiction in the EZTax.in crypto calculator.
  10. What would be the base operating currency from the taxation purpose in India?
    Indian Rupee (INR).

  11. What are different crypto currencies in the world?
    Bitcoin, Ethereum, Tether, Binance Coin, XRP etc.

  12. How the exchange rate would be determined from Foreign Currency to INR?
    Based on the inter-banking exchange rates in case such conversion rate is not available with the Reserve Bank of India (RBI, the Central Bank of India)

  13. How to collect the data from the crypto intermediary?
    1. Download Profit & Loss statement from the broker for the corresponding Financial Year (FY).
    2. In the absence of above, collect trade level data where a sale / lost / stolen / gifted event has occurred in the FY.
    3. Generally, purchase value includes Purchase value for the sold, lost, stolen, gifted currency. Adjust the EZTax.in Crypto tax calculator accordingly.

  14. As per new regulation on Crypto trading, no loss can be set-off against current or future gains. Hence above loss cannot participate in set-off.

  15. What are the expenses that can be included to reduce the gain or increase the loss ?
    Per latest regulation, no expenses can be included in the purchase value.

  16. What asset class Cryptos belong to ?
    Crypto assets are un-regulated and de-centralised in India. Cryptos in India are classified as different asset class as 'crypto currency'. Cannot be considered as 'Any Other Asset' for the purpose of taxation in India.

  17. Are Cryptos and NFTs are one and the same ?
    NFTs (non-fungible token) is based on the same blockchain technology that Crypto currency uses, but it's not a currency and is the key difference. 'NFT' could be associated with a real asset that can be sold.

  18. Difference between virtual currency and crypto currency?
    Virtual currency is a digital form with a store value. The Virtual currencies could be regulated or unregulated. Regulated virtual currencies can be exchanged with a real currency like Rupee (INR) like Central Bank Digital Currency (CBDC).

    Crypto currency is a subset of virtual currency mostly unregulated using technology like blockchain to capture the transaction ledger.
More on Crypto currencies in India

Indians started trading in cryptos since 2017 and much has changed since then in terms of legal aspect of such trading, taxation on gains from crypto trading. EZTax.in has put together much content that is important for the retail crypto trader in India and/or abroad. Know more from the below links

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Disclaimer: This article provides an overview and general guidance, not exhaustive for brevity. Please refer Income Tax Act, GST Act, Companies Act and other tax compliance acts, Rules, and Notifications for details.