India Crypto Tax Deadline 2025

The ITR filing deadline for FY 2024-25 (Assessment Year 2025-26) is 15 September 2025 for most taxpayers - extended by CBDT from the original 31 July date. All cryptocurrency and Virtual Digital Asset (VDA) gains are taxed at a flat 30% rate under Section 115BBH - with no deductions allowed except the cost of acquisition. For FY 2025-26, the filing deadline will be 31 July 2026.

VDA tax rules for FY 2024-25

India's VDA tax framework under Section 115BBH, introduced in Finance Act 2022, applies to all cryptocurrency transactions in FY 2024-25. The rules are strict and leave little room for deductions or loss offsets.

• 30% flat tax rate. All gains from transfer of VDA are taxed at 30% under Section 115BBH, regardless of holding period or income slab. Surcharge and health and education cess (4%) apply on top of the base rate.
• Only cost of acquisition is deductible. No other expenses are allowed as deductions - not brokerage fees, not transfer costs, not administrative charges. Only the original purchase price reduces your taxable gain.
• No loss set-off between VDAs. A loss on Bitcoin cannot be used to reduce a gain on Ethereum. Each VDA is treated independently. VDA losses also cannot be set off against salary, rent, or any other income.
• No loss carryforward. Unlike capital losses, VDA losses cannot be carried forward to offset gains in future years. Any loss in FY 2024-25 is permanently disallowed.
• Report on Schedule VDA. All VDA transactions must be disclosed in Schedule VDA of your ITR. This covers transfers, exchanges, and any other disposals of VDA.

Key dates for FY 2024-25

India's tax year runs April to March, with ITR filing in the following July.

• 1 April 2024: FY 2024-25 begins. All VDA transactions from this date are reportable for AY 2025-26.
• 31 March 2025: FY 2024-25 ends. This is the last date for any transactions to fall in this assessment year.
• 15 September 2025: ITR filing deadline for individuals not subject to tax audit - extended by CBDT from the original 31 July date. This deadline has passed.
• 31 October 2025: Deadline for taxpayers whose accounts are subject to audit. This deadline has also passed.
• 31 December 2025: Deadline for belated returns (filed after 15 September 2025 but before this date) and revised returns. This has also passed.
• 31 July 2026: Filing deadline for FY 2025-26 (Assessment Year 2026-27) - the next filing cycle.

TDS on VDA transfers under Section 194S

Section 194S requires tax to be deducted at source on applicable VDA transfers. Indian exchanges typically deduct this TDS automatically at the time of each qualifying transaction.

Foreign exchanges - including Coinbase, Binance, and Kraken - typically do not deduct TDS. Check how Section 194S may apply to your transactions on overseas platforms, as the obligation may fall on the buyer or the platform depending on the circumstances.

TDS already deducted is reflected in Form 26AS and the Annual Information Statement (AIS). When you file your ITR, you can claim the TDS as a credit against your total tax liability. Reconcile your Form 26AS before filing to ensure TDS figures are accurate.

What you need to file your ITR

Organising your records before filing is straightforward if you have complete transaction history from each platform.

• Complete exchange CSV exports. Download your full transaction history from Coinbase, Binance, Kraken, and any Indian exchanges you used. You need the date, type, quantity, and price for every VDA transaction in FY 2024-25.
• Cost of acquisition for each VDA sold. This is the only deductible expense. The calculator determines this from your purchase history.
• Form 26AS and AIS. Verify TDS credits before filing. Any TDS deducted by Indian exchanges should appear here and be claimed in your ITR.
• ITR-2 or ITR-3 with Schedule VDA. ITR-1 (Sahaj) cannot be used if you had any VDA transactions. ITR-2 is for individuals without business income; ITR-3 is for those with business or professional income.

How to calculate your crypto taxes

India's per-VDA, no-loss-offset rules mean each asset is calculated independently. Here is how to get the figures for Schedule VDA.

1. Export your complete transaction history. Download CSVs from each exchange for the full FY 2024-25 period (1 April 2024 to 31 March 2025).
2. Upload to DYOR.tax and select India. The engine calculates gain per VDA, applying only cost of acquisition as the deductible amount in line with Section 115BBH.
3. Review your free preview. See gain amounts per asset, 30% tax estimates, and a breakdown of your transactions before paying. TDS credit amounts are shown separately for reconciliation.
4. Download the full PDF report. It includes per-VDA gain figures for Schedule VDA and a summary of total income from VDA transfers for your ITR. Share with your chartered accountant or enter directly.

Penalties and interest for late filing

Missing the 15 September 2025 deadline triggers fee and interest provisions that compound the longer you wait.

• Section 234F late filing fee: ₹5,000 for returns filed after 15 September 2025. Reduced to ₹1,000 if total income is below ₹5 lakh. This applies even if all tax was paid on time via advance tax.
• Section 234A interest: 1% per month on tax outstanding from 15 September 2025. Applies only if there was tax due at the time of the filing deadline.
• Section 234B/234C: Interest if advance tax installments were not paid correctly during the year. VDA income at 30% can create significant advance tax obligations.
• After 31 December 2025: Belated return filing is no longer available. Filing after this date requires a condonation of delay application or updated return (ITR-U), which has its own conditions and additional tax implications.

Common reasons Indian crypto filers miss the deadline

• Assuming foreign exchange gains are not taxable in India. Gains on Coinbase, Binance, or any other overseas platform are fully taxable in India if you are a tax resident, regardless of where the exchange is based.
• Expecting to offset losses across different coins. Many filers discover after the fact that VDA losses cannot reduce gains on other VDAs. Each asset is calculated independently under Section 115BBH.
• Not reconciling TDS in Form 26AS. TDS deducted by Indian exchanges needs to be claimed as a credit. Missing this means overpaying tax while leaving credits unclaimed.
• Using ITR-1 for VDA transactions. ITR-1 does not have Schedule VDA. Using the wrong form invalidates the return and requires refiling.

Related guides and calculators

• India Crypto Tax Calculator - 30% flat rate, Section 115BBH, Schedule VDA output
• Coinbase Tax Calculator India - Coinbase CSV with Indian VDA rules applied
• Binance Tax Calculator India - Binance Transaction History with Indian tax rules