How is crypto tax calculated on WazirX in India?

Crypto gains on WazirX are taxed at flat 30% u/s 115BBH of Income Tax Act (Budget 2022). Additionally, 1% TDS u/s 194S is deducted on every sale transaction. Losses cannot be set off against other income. No deductions (except cost of acquisition) are allowed.

Is 1% TDS deducted on every crypto trade on WazirX?

Yes — Section 194S TDS at 1% is deducted on every cryptocurrency sell transaction on Indian exchanges like WazirX. The TDS is automatically deducted by the exchange and reflected in your Form 26AS. This TDS is creditable against your final tax liability in ITR-2 or ITR-3.

Can I set off crypto losses in India?

No — as per Section 115BBH, losses from VDA (Virtual Digital Assets) cannot be set off against any other income, nor carried forward to subsequent years. Even losses within crypto (e.g., Bitcoin loss cannot offset Ethereum gain) are not allowed under the current law.

CRYPTO TAX · SECTION 115BBH & 194S

WazirX Crypto Tax Calculator India — 30% + 1% TDS

Calculate your crypto tax liability on WazirX trades. Flat 30% on gains u/s 115BBH, 1% TDS u/s 194S per sell, no loss set-off allowed. ITR-2/ITR-3 filing guide.

✓ 30% Flat Tax ✓ 1% TDS (Sec 194S) ✓ No Loss Set-Off

Total Buy Value (Cost of Acquisition) — ₹

Total Sell Value (Proceeds) — ₹

Total Number of Sell Transactions (for TDS)

TDS Already Deducted by WazirX (₹)

Check Form 26AS / WazirX tax report for TDS deducted

Other Income (Salary / Business) — Annual (₹)

Only for total tax liability context. Crypto is always taxed at 30% regardless.

Crypto Tax Summary — WazirX

Net Gain / Loss

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Tax Payable (30% + cess)

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Particulars	Amount
Total Buy Value (Cost)	—
Total Sell Value (Proceeds)	—
Net Gain / (Loss)	—
Tax Rate (Section 115BBH)	30% flat
Income Tax on Gain	—
Health & Education Cess (4%)	—
Total Tax Payable	—
TDS Reconciliation (Sec 194S)
TDS Deducted (1% of sell value)	—
TDS Already Deposited in 26AS	—
Balance Tax to Pay in ITR	—

📋 Report crypto in Schedule VDA of ITR-2 or ITR-3. TDS in Form 26AS (Part A) is credited against tax payable. Mandatory reporting even for losses. Deadline: 31 July for salaried, 31 Oct for audit cases.

Monthly tax & compliance updates

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Frequently Asked Questions

Use ITR-2 if crypto is your only income apart from salary/pension. Use ITR-3 if crypto is treated as business income (frequent traders). Report gains in Schedule VDA (Virtual Digital Assets), which was introduced from AY 2023-24. Do not use ITR-1 — it does not have VDA schedule.

Yes — Section 56(2)(x) taxes gift of VDA exceeding ₹50,000/year as "Income from Other Sources" in the recipient's hands at slab rate. The sender has no capital gain on gift. However, airdrop, mining income, and staking rewards are also taxable at 30% as VDA income.

WazirX deducts 1% TDS on every sell transaction above ₹10,000 (₹50,000 for small traders with turnover < ₹1 crore). The TDS is reflected in your Form 26AS within 7 days of deduction. You can verify it on the income tax portal and claim it as credit in your ITR, reducing your final tax payable.

WazirX Crypto Tax Calculator India — 30% + 1% TDS

Monthly tax &amp; compliance updates

Frequently Asked Questions

Frequently Asked Questions

Monthly tax & compliance updates