API Pricing

Overview

This API calculates Tax P&L for crypto by taking in the trade book data.

Problem

Brokers/Exchanges have to provide accurate Realized & Unrealized P&L.
Brokers/Exchanges must apply Virtual Digital Asset tax rules to calculate Pre-Tax & Post-Tax returns accurately.
The tax landscape is ever-changing with announcements from regulators, tax departments & finance ministry, especially in the case of crypto.
Investors & Traders have to furnish accurate P&L & Holdings in their tax returns as per the tax law.
Brokers/Exchanges are unable to provide accurate tax computations.

Solution

API to calculate Tax P&L in real-time.
API covers tax calculation for different transactions like Trade, Mining, Staking, Gift, NFTs, DeFi, etc.
Allows Brokers to visualize Tax P&L for their users.
Tax P&L reports can be generated using the trade-wise method as prescribed by the Income tax department.

Endpoint

HTTP Method	Endpoint
POST	/it-calculator/crypto/tax-pnl/tradebook

HTTP Method	Endpoint
POST	/it-calculator/crypto/tax-pnl/tradebook/spreadsheet

📘
The response of this API is a signed URL of a spreadsheet file with the same data as the above API's response and is valid for 7 days.

Request Body

VDA Transaction

Param	Type	Required	Description
id	`Number`	Optional	Transaction ID of the particular trade
date	`Number`	Yes	Trade Timestamp in epoch milliseconds
transaction_type	`String`	Yes	Indicates whether the order is : `buy`, `sell`, `trade`, `send`, `receive`
label	`String`	Optional	Indicates the category of transaction type. Possible values :- `interest`, `staking`, `staking_reward`, `lost`, `mining_reward`, `airdrop`, `donation`, `fork`, `gift`, `payment`, `other_income`
received_currency	`String`	Yes	Symbol of the cryptocurrency received (If `transaction_type` = `send`/`sell`pass `null`)
received_quantity	`Number`	Yes	Quantity received by executing the transaction. (Required when `received_currency` ≠ `null`)
price	`Number`	Yes	Price at which unit is traded. (If `transaction_type` = `send`/`receive`pass `null`)
price_currency	`Number`	Yes	Currency in which price is considered. Possible values: `INR`, `USD`, `BTC` etc. (Required when `price` ≠ `null`)
price_in_inr	`Number`	Yes	Per unit value of the crypto in INR (Required when `price_currency` ≠`INR` or = `null`)
sent_currency	`String`	Yes	Symbol/Name of the crypto sent (If `transaction_type` =`recieve`/`buy` pass `null`).
sent_quantity	`Number`	Yes	Quantity sent by executing the transaction (Required if `sent_currency` ≠ `null`).
fee_currency	`String`	No	Currency in which transaction fees or any other expense was made while executing the transaction
fee_amount	`Number`	No	Amount/quantity spent as fees or other expenses while executing transactions
fee_in_inr	`Number`	No	INR value of the fee paid for the transaction. (Required if `fee_currency` ≠ `INR`)

Note - Whenever a field is blank pass null

🚧
All the Transactions should be passed in the request since inception of the account.

Definition of Transaction Type

Transaction Type	Definition
`buy`	OTC buy transaction on an exchange
`sell`	OTC sell transaction on an exchange
`trade`	Crypto to Crypto transaction on the Exchange
`send`	Crypto sent out of the wallet
`receive`	Crypto received in the wallet

Label

Label	Definition
`airdrop`	An unsolicited distribution of a cryptocurrency token or coin, usually for free
`interest`	Cryptocurrency received in the form of Interest on the coins kept as a deposit
`staking`	Lock crypto assets for a set period of time to help support the operation of a blockchain
`staking_reward`	The reward received for locked crypto assets for a set period of time
`fork`	Crypto received due to hard fork
`gift`	Crypto received as a gift in the wallet
`lost`	Irrecoverable cryptocurrency from wallets
`mining_reward`	The crypto reward received on mining the coin
`donation`	Defines a transaction that was donated to a charity
`payment`	A transaction that was received as a payment for a good or service
`other income`	Defines any other type of reward received

Sample Tradebook

id	Date	Transaction Type	Label	Received Currency	Received Quantity	Price	Price Currency	Price in INR	Sent Currency	Sent Quantity
111	01-04-2021 12:23:30:11	buy		BUSD	49.4698	75	INR
222	02-04-2021 12:23:30:11	buy		ETH	0.25	1000	INR
333	10-05-2021 12:23:30:11	sell				90	INR		BUSD	24.7349
444	11-06-2021 12:23:30:11	trade		LUNA	0.31	79.79	BUSD	6562.7275	BUSD	24.7349
555	20-06-2021 12:23:30:11	trade		BUSD	15.009	100.06	BUSD	8229.935	LUNA	0.15
666	21-06-2021 12:23:30:11	trade		BUSD	15.5856	100.06	BUSD	8229.935	LUNA	0.16
777	01-07-2021 12:23:30:11	receive	airdrop	BUSD	1			85
888	10-07-2021 12:23:30:11	receive	interest	LUNA	0.31			9000
999	05-08-2021 12:23:30:11	receive	staking_reward	MATIC	10			240
101010	10-08-2021 12:23:30:11	send	lost					2000	ETH	0.15
111111	11-11-2021 12:23:30:11	receive	mining_reward	ETH	0.25			1800
121212	20-11-2021 12:23:30:11	sell				1200	INR		ETH	0.3

Market Value of Crypto Currency in INR

Date	Currency	Price in INR
11/06/2021	BUSD	82.25
20/06/2021	LUNA	7000

Tradewise Capital Gains & Losses

Symbol	Quantity	Buy Trade Id	Buy Date	Buy Price	Sell Trade Id	Sell Date	Sell Price	Holding period	Realized P/L	Net Realized P/L	Tag	Taxable P&L	Income Head	Income Sub Head	Tax Rate	Tax	Net P&L (G-L)
ETH	0.1	222	02 -04 -2021 10:33:12:45	1000	121212	20-11-2021 10:33:12:45	1200	short_term	20	20	trading	20	Capital Gains	Virtual Digital Asset	30	6	14
ETH	0.2	111111	11-11-2021 10:33:12:45	1800	121212	20-11-2021 10:33:12:45	1200	short_term	-120	-120	trading	0	Capital Gains	Virtual Digital Asset	30	0	-120
BUSD	24.7349	111	01-04-2021 10:33:12:45	75	333	10-5-2021 10:33:12:45	90	short_term	371.0235	371.0235	trading	371.0235	Capital Gains	Virtual Digital Asset	30	111.30705	259.71645
BUSD	24.7349	111	01-04-2021 10:33:12:45	75	444	11-06-2021 10:33:12:45	82.25	short_term	179.328025	179.328025	trading	179.328025	Capital Gains	Virtual Digital Asset	30	53.7984075	125.5296175
LUNA	0.15	444	11-06-2021 10:33:12:45	6562.7275	555	20-06-2021 10:33:12:45	8229.935	short_term	250.081125	250.081125	trading	250.081125	Capital Gains	Virtual Digital Asset	30	75.0243375	175.0567875
LUNA	0.16	444	11-06-2021 10:33:12:45	6562.7275	666	21-06-2021 10:33:12:45	8229.935	short_term	266.7532	266.7532	trading	266.7532	Capital Gains	Virtual Digital Asset	30	80.02596	186.72724

Tradewise Other Tax P&L

Symbol	Quantity	Buy Trade Id	Date of Acquisition	Cost of Acquisition	sell_trade_id	Date of_ Transfer	Consideration Received	Realized P&L	Net Realized P&L	Nature of Transaction	Taxable P&L	Income Head	Income Sub Head	Tax Rate	Tax	Net P&L (G-L)	Turnover
ETH	0.15	222	02-04-2021 10:33:12:45	150	101010	10-08-2021 10:33:12:45	0	-150	-150	lost	0	NA	NA	NA	NA	-150	NA
MATIC	10	999	05-08-2021 11:35:12:45	0			2400	2400	2400	staking_reward	2400	Business and Profession	Virtual Digital Asset	30	720	1680	2400.0000
ETH	0.25	111,111	11-11-2021 21:12:12:45	0			450	450	450	mining_reward	450	Business and Profession	Virtual Digital Asset	30	135	315	450.0000
BUSD	1	777	01-07-2021 10:33:12:45	0			85	85	85	airdrop	85	Business and Profession	Virtual Digital Asset	30	25.5	59.5	85.0000
LUNA	0.31	888	10-07-2021 10:33:12:45	0			2790	2790	2790	interest	2790	Business and Profession	Virtual Digital Asset	30	837	1953	2790.0000

Transaction Summary

Nature	Total Transaction Value	Realised P/L	Net Realized P/L
Mining	90	90	90
Trading	7171.8663	967.1858	967.1858
Staking Reward	2400	2400	2400
Airdrop	85	85	85
Interest	2790	2790	2790
lost	150	-150	-150
payment_send	0	0	0
payment_receive	0	0	0
gift_receive	0	0	0
gift_send	0	0	0
fork	0	0	0
donation	0	0	0
other_income	0	0	0

Tax P/L summary

Income Head	Income Sub Head	Holding period	Realized P&L	Net Realized P/L	Taxable P/L	Tax Rate	Tax	Net P/L
Capital Gains	Virtual Digital Asset	short_term	967.1858	967.1858	1087.18585	30	326.155755	641.030045
Capital Gains	Virtual Digital Asset	long_term	0	0	0	30	0	0
Business & Profession	Virtual Digital Asset	NA	5575	5575	5725	30	1717.5	3857.5
Other	Gift	NA	0	0	0	slab_rate	NA	NA

Tradebook P&L

Overview

Problem

Solution

Endpoint

📘
The response of this API is a signed URL of a spreadsheet file with the same data as the above API's response and is valid for 7 days.

Request Body

VDA Transaction

🚧
All the Transactions should be passed in the request since inception of the account.

Definition of Transaction Type

Label

Sample Tradebook

Market Value of Crypto Currency in INR

Tradewise Capital Gains & Losses

Tradewise Other Tax P&L

Transaction Summary

Tax P/L summary

Overview

Problem

Solution

Endpoint

📘The response of this API is a signed URL of a spreadsheet file with the same data as the above API's response and is valid for 7 days.

Request Body

VDA Transaction

🚧All the Transactions should be passed in the request since inception of the account.

Definition of Transaction Type

Label

Sample Tradebook

Market Value of Crypto Currency in INR

Tradewise Capital Gains & Losses

Tradewise Other Tax P&L

Transaction Summary

Tax P/L summary

📘
The response of this API is a signed URL of a spreadsheet file with the same data as the above API's response and is valid for 7 days.

🚧
All the Transactions should be passed in the request since inception of the account.