$NFT
Cooling DownSnapshot Window: 2026-07-10 07:40 UTC · ← Back to Crypto Overview
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Common mistakes people make while filing crypto/VDA taxes in India (and how to avoid them) With the ITR filing season in full swing, we're seeing the same handful of mistakes come up again and again in crypto tax filings. Sharing them here in case it saves someone a notice or a revised return later. 1. Netting off losses across VDAs: You can't set off a loss on one crypto asset against a gain on another. Each VDA transaction is taxed individually at 30% on gains; losses can't offset gains, even within the same token or financial year, and definitely can't be carried forward. 2. Deducting expenses beyond the cost of acquisition No deductions are allowed for transfer fees, gas fees, or platform charges. The only thing you can subtract from the sale value is the cost of acquisition. Nothing else, no matter how directly related to the trade.
Deposit 11U to get the Genesis Badge! A new event from the early project @Outcomexyz in the Hyperliquid HIP-4 prediction market ecosystem that you can easily participate in. Outcome is positioned as a prediction market platform built on Hyperliquid, providing prediction trading