With the Income Tax (IT) returns deadline closing on September 15, crypto investors must ensure accurate filing of gains. Ever since the Union Budget 2022 recognized Virtual Digital Assets (VDAs) under Section 115BBH, crypto gains are taxed at a flat 30% plus cess, without provisions for loss offsets.

Additionally, a 1% TDS on transactions over ₹10,000 remains mandatory. From FY 2025–26, declaring crypto assets in IT filings becomes compulsory. Experts stress compliance, warning that concealment could invite penalties. While the industry seeks tax relief, accurate filing today is critical for investors’ financial safety.