Frequently Asked Questions

How is the cryptocurrency tax calculated?

The Government of India updates the Income Tax Guidelines from time to time for taxpayers to follow. Budget 2022 imposed a 30% tax on Virtual Digital Assets gains, including cryptocurrency trading, NFTs, etc. Our blogs extensively cover everything you need to know about the latest tax regime in India. Our platform is continuously updated as per the latest tax guidelines to provide you with the smoothest income tax calculator for crypto gains in India.

What happens if I make a loss while trading crypto?

Taxes are computed on cryptocurrency gains. If you made a loss on one transaction, you might be able to reduce your overall profit to arrive at your taxable income. If you made a net loss from all your Digital Asset transactions, you wouldn’t have to pay tax but starting April 2022, you must have already paid TDS at 1% on every transaction. Using our software, you can easily trace all your transactions in one place and automatically compute your tax liability.

What if I don’t remember all my transactions? How will my tax be computed then?

KuberTax integrates many exchanges that automatically track all your crypto transactions. You won’t have to remember your transactions anymore. You can have multiple exchanges linked in one place and trace all your historical transactions as well. The annual tax is computed on the overall profit from all virtual assets at the end of the financial year. However, you may have to pay advance tax every quarter if your income crosses a threshold. Complicated, right? That’s why you have us, India’s most hassle-free crypto tax calculator.

What are the tax guidelines on crypto?

Our blogs cover the latest updates on the tax guidelines surrounding cryptocurrency and other digital assets. (link to popular blogs)

Are the taxes from all digital assets calculated the same way?

The government recently defined Virtual Digital Assets which includes Cryptocurrency, NFTs and all digital assets. The definition encompasses any information or code or number or token (not being Indian currency or any foreign currency), generated through cryptographic means or otherwise.

Can't I just get my accountant to do this for me?

While our platform has been created under the expert guidance of leading accountants in the country, you can always get the customised reports generated from the platform reviewed by your accountant. You can invite your accountant to the product and collaborate within the app so that your accountant helps you reconcile transactions.

Do you handle non-exchange activity?

On-chain transactions like Mining, ICOs, Airdrops, Staking, or any other DeFi activity is also covered on this platform. Any crypto activity can be easily added and tracked in one place.

I have not done my crypto taxes since 2017. Do I have to pay for every financial year?

Taxes have to be paid every financial year. However, there are methods in which you can file taxes for the previous year in case you missed it. Explore our pricing packages to choose one that fits your needs.

What if my exchange is not on the list of supported exchanges?

We cover a couple of exchanges, wallets, and blockchains, but if you do not see your exchange on the supported list we are more than happy to include it here. Just reach out to us via the chat support feature and we will be happy to help.