Tax P&L Report
Tax P&L report helps you understand your taxes applicable on Capital Gains and Business and Profession income generated through trading of Cryptocurrency and NFTs.
Overview
This API generates Tax P&L Report for crypto trading 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.
- Brokers have to provide a report to their users that can help them calculate and report their crypto income.
Solution
- API generates Tax P&L report which can directly be used to report income from crypto trading in your ITR
- 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/report/tax-pnl |
Request
Query Parameters
| Param | Type | Description | Example |
|---|---|---|---|
| report | string | Possible values: Tradewise, Scripwise | tradewise |
| from | number | From Date in Epoch milliseconds | 1667241000000 |
| to | number | To Date, in Epoch milliseconds | 1669746600000 |
Body
Follow the below guidelines to pass the crypto tradebook in raw_body in the form of a sheet structure.
Crypto Currency Tradebook
| Param | Type | Required | Description |
|---|---|---|---|
| id | String | No | 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 | No | 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/sellpass 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/receivepass 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.
Last Traded Price
| Param | Type | Description |
|---|---|---|
| Cryptocurrency name | string | Name of crypto currency, the name should match the name passed in tradebook. |
| Last traded price | number | Last traded price of the currency |
Last traded prices are to be passed only for the crypto currencies that are traded by the user and should be passed in List format.
Sample CURL Request
curl--request POST \
--url 'https://api.sandbox.co.in/it-calculator/crypto/report/tax-pnl?report=tradewise&from=1667241000000&to=1669746600000' \
--header 'Authorization: xxxxxxxxxxxxxx' \
--header 'accept: application/json' \
--header 'content-type: application/json' \
--header 'x-api-key: xxxxxxxxxxxxxx' \
--header 'x-api-version: 1.0' \
--data '
{
"@entity": "workbook",
"name": "tradebook_workbook",
"sheets": [
{
"name": "crypto_currency_tradebook_sheet",
"metadata": {},
"blocks": [
{
"name": "crypto_currency_tradebook_table",
"@entity": "table",
"header": [
"id",
"date",
"transaction_type",
"label",
"received_currency",
"received_quantity",
"price",
"price_currency",
"price_in_inr",
"sent_currency",
"sent_quantity",
"fees_currency",
"fees_amount",
"fee_in_inr"
],
"rows": [
[
"32",
1677683000000,
"buy",
null,
"CELR",
123394.795000000000,
227570.920000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"34",
1677683460000,
"sell",
null,
null,
null,
234616.000000000000,
"INR",
null,
"BTC",
0.093949513402,
null,
null,
null
],
[
"35",
1677683460000,
"buy",
null,
"BTC",
0.093949513402,
232269.840000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"36",
1677683460000,
"sell",
null,
null,
null,
227827.570000000000,
"INR",
null,
"CELR",
119327.159700000000,
null,
null,
null
],
[
"37",
1677683460000,
"buy",
null,
"USDT",
2840.909090909091,
250000.000000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"38",
1677683460000,
"sell",
null,
null,
null,
250000.000000000000,
"INR",
null,
"USDT",
2840.909090909091,
null,
null,
null
],
[
"39",
1677683460000,
"buy",
null,
"LTC",
32.573217000000,
250000.000000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"40",
1677689340000,
"buy",
null,
"BTC",
0.167500000000,
236282.310000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"41",
1677689340000,
"sell",
null,
null,
null,
238669.000000000000,
"INR",
null,
"BTC",
0.167500000000,
null,
null,
null
],
[
"42",
1677689340000,
"buy",
null,
"ZIL",
109438.812500000000,
250000.000000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"43",
1677683460000,
"buy",
null,
"ICP",
513.867215000000,
250000.000000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"44",
1677683460000,
"sell",
null,
null,
null,
174738.000000000000,
"INR",
null,
"USDT",
2051.299170616114,
null,
null,
null
],
[
"45",
1677683460000,
"buy",
null,
"USDT",
2051.299170616114,
172990.620000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"46",
1677683460000,
"sell",
null,
null,
null,
173129.650000000000,
"INR",
null,
"ZIL",
74553.897500000000,
null,
null,
null
],
[
"48",
1677683460000,
"buy",
null,
"LUNA2",
2202.990000000000,
264808.209960000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"50",
1677628800000,
"receive",
"other_income",
"BTC",
0.000020180000,
2300000.84,
"INR",
null,
null,
null,
null
],
[
"51",
1677628800000,
"receive",
null,
"BTC",
0.000001640000,
4.016442000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"52",
1677628800000,
"receive",
"gift",
"BTC",
0.000152260000,
2500000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"53",
1677628800000,
"receive",
"airdrop",
"LUNA2",
0.000069648000,
0.000000000000,
"INR",
null,
null,
null,
null,
null,
null
],
[
"54",
1677628800000,
"receive",
"staking_reward",
"ADA",
0.013368138318,
0.000000000000,
"INR",
null,
null,
null,
null,
null
],
[
"54",
1677628800000,
"send",
"staking",
null,
null,
0.000000000000,
"INR",
null,
"ADA",
0.013368138318,
null,
null
]
]
},
{
"name": "crypto_currency_last_traded_price_list",
"@entity": "list",
"items": [
[
"BTC",
1250888
],
[
"LUNA2",
500
],
[
"CELR",
89
],
[
"ICP",
111
],
[
"LTC",
11000
],
[
"ZIL",
98
]
]
}
]
}
]
}'
Response
Tax Pnl Summary
Tax P/L Summary
This table gives a summary of your crypto trades grouped by income_head, income_sub_head, and holding_period.
| Param | Type | Description |
|---|---|---|
| income_head | string | The income head of ITR under which the income is to be reported |
| income_sub_head | string | The income subhead of ITR under which the income is to be reported |
| holding_period | string | The holding period of the crypto. |
| realized_pnl | number | Total realized profit or loss on the trades without considering expenses |
| transfer_expenses | number | Total expenses that occurred during the transafer of crypto, could be network fees, brokerage, or any other transaction fee. |
| net_realized_pnl | number | Total realized profit or loss on the trades after considering expenses |
| taxable_pnl | string | Total taxable amount of all trades |
| tax_rate | string | The applicable tax rate for all trades. |
Transaction Summary
This table gives a summary of your crypto trades grouped by the nature_of_transaction.
| Param | Type | Description |
|---|---|---|
| nature_of_transaction | string | Nature of crypto transaction. possible values: |
| total_transaction_value | number | The total value of crypto transactions that happened for a given nature of transaction. |
| realized_pnl | number | Total realized profit or loss on the trades without considering expenses |
| transfer_expenses | number | Total expenses that occurred during the transafer of crypto, could be network fees, brokerage, or any other transaction fee. |
| net_realized_pnl | number | Total realized profit or loss on the trades after considering expenses |
Crypto Currency
Tradewise Capital Gains & Losses
| Param | Type | Description |
|---|---|---|
| symbol | string | Symbol or description of crypto |
| quantity | number | Trading quantity |
| buy_trade_id | string | Transaction ID of the buy transaction |
| buy_date | number | The date on which the crypto was bought |
| buy_price | number | Price at which a unit was bought |
| sell_trade_id | string | Transaction ID of the sell transaction |
| sell_date | number | The date on which the crypto was sold |
| sell_price | number | Price at which a unit was sold |
| holding_period | string | The holding period of the crypto could be either long_term or short_term |
| realized_pnl | number | The realized profit or loss on the trade without considering transfer expenses |
| transfer_expenses | number | The expenses that occurred during the transafer of crypto, could be network fees, brokerage, or any other transaction fee. |
| net_realized_pnl | number | The realized profit or loss on the trade after considering transfer expenses |
| nature_of_transaction | string | The nature of the crypto transaction could be either trading or payment_send |
| taxable_pnl | string | The taxable amount of the trade |
| income_head | string | The income head of ITR under which the income of a specific trade is to be reported |
| income_sub_head | string | The income subhead of ITR under which the income of a specific trade is to be reported |
| tax_rate | string | The applicable tax rate for the trade. |
Tradewise Other Tax PnL
| Param | Type | Description |
|---|---|---|
| symbol | string | Symbol or description of crypto |
| quantity | number | Trading quantity |
| buy_trade_id | string | Transaction ID of the buy transaction |
| date_of_aquisation | number | The date on which the crypto was bought |
| cost_of_aquisation | number | Total cost of acquisition of the crypto |
| sell_trade_id | string | Transaction ID of the sell transaction |
| date_of_transfer | number | The date on which the crypto was transferred out of the wallet |
| consideration_received | number | The fiat value of the consideration received on the transfer of the crypto. |
| realized_pnl | number | The realized profit or loss on the trade without considering expenses |
| expenses | number | The expenses that occurred during the transafer of crypto, could be network fees, brokerage, or any other transaction fee. |
| net_realized_pnl | number | The realized profit or loss on the trade after considering expenses |
| nature_of_transaction | string | The nature of the crypto transaction. |
| taxable_pnl | string | The taxable amount of the trade |
| turnover | string | Turnover of the transaction. |
| income_head | string | The income head of ITR under which the income of a specific trade is to be reported |
| income_sub_head | string | The income subhead of ITR under which the income of a specific trade is to be reported |
| tax_rate | string | The applicable tax rate for the trade. |
Holdings
Cryptocurrency Holdings
| Param | Type | Description |
|---|---|---|
| symbol | number | Symbol or description of crypto |
| quantity | number | Trading quantity |
| buy_date | string | The date on which the crypto was bought |
| buy_price | number | Price at which a unit was bought |
| last_trading_price | number | The last traded price of the unit |
Schedule VDA
Income from VDA Summary
| Param | Type | Description |
|---|---|---|
| total_sum_of_all_positive_incomes_of_capital_gain_income | number | total of all gains from Capital gain (exclude losses) |
| total_sum_of_all_positive_incomes_of_business_income | number | total of all gains from Business Income (exclude losses) |
Income from Transfer of VDA
| Param | Type | Description |
|---|---|---|
| sr_no | number | serial number |
| date_of_acquisition | string | The date on which crypto was acquired |
| date_of_transfer | string | The date on which unit was transferred |
| income_head | string | Income head under which income from crypto is mapped. Enums: Business and Profession, Capital Gains |
| cost_of_acquisition | number | The cost at which unit was acquired |
| consideration_received | number | The amount received as compensation for transferring units |
| realized_pnl | number | Realized Profit and loss on transfer of crypto |
Sample Response
You can refer to the sample response in workbook format
The API responds back in a sheet structure. An example response is shown below.
{
"transaction_id": "e63194ef-c595-4e6a-9538-ea61953a490b",
"timestamp": 1683302003000,
"code": 200,
"data": {
"name": "tradewise_tax_pnl_workbook",
"@entity": "workbook",
"sheets": [
{
"name": "crypto_currency_tradewise_tax_pnl_sheet",
"@entity": "sheet",
"blocks": [
{
"name": "crypto_currency_tradewise_capital_gains_and_losses_table",
"@entity": "table",
"header": [
"symbol",
"quantity",
"buy_trade_id",
"buy_date",
"buy_price",
"sell_trade_id",
"sell_date",
"sell_price",
"holding_period",
"realized_pnl",
"transfer_expenses",
"net_realized_pnl",
"nature_of_transaction",
"taxable_pnl",
"income_head",
"income_sub_head",
"tax_rate"
],
"rows": [
[
"BTC",
0.00002018,
"50",
1677628800000,
2300000.84,
"34",
1677683460000,
234616,
"short_term",
-41.6795,
0,
-41.6795,
"trading",
0,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"BTC",
0.00000164,
"51",
1677628800000,
4.0164,
"34",
1677683460000,
234616,
"short_term",
0.3848,
0,
0.3848,
"trading",
0.3848,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"BTC",
0.00015226,
"52",
1677628800000,
2500000,
"34",
1677683460000,
234616,
"short_term",
-344.9274,
0,
-344.9274,
"trading",
0,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"BTC",
0.093775433402,
"35",
1677683460000,
232269.84,
"34",
1677683460000,
234616,
"short_term",
220.0122,
0,
220.0122,
"trading",
220.0122,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"BTC",
0.00017408,
"35",
1677683460000,
232269.84,
"41",
1677689340000,
238669,
"short_term",
1.114,
0,
1.114,
"trading",
1.114,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"BTC",
0.16732592,
"40",
1677689340000,
236282.31,
"41",
1677689340000,
238669,
"short_term",
399.3551,
0,
399.3551,
"trading",
399.3551,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"CELR",
119327.1597,
"32",
1677683000000,
227570.92,
"36",
1677683460000,
227827.57,
"short_term",
30625315.537,
0,
30625315.537,
"trading",
30625315.537,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"USDT",
2840.909090909091,
"37",
1677683460000,
250000,
"38",
1677683460000,
250000,
"short_term",
0,
0,
0,
"trading",
0,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"USDT",
2051.299170616114,
"45",
1677683460000,
172990.62,
"44",
1677683460000,
174738,
"short_term",
3584399.1448,
0,
3584399.1448,
"trading",
3584399.1448,
"capital_gains",
"virtual_digital_asset",
"30"
],
[
"ZIL",
74553.8975,
"42",
1677689340000,
250000,
"46",
1677683460000,
173129.65,
"short_term",
-5730984194.6891,
0,
-5730984194.6891,
"trading",
0,
"capital_gains",
"virtual_digital_asset",
"30"
]
]
},
{
"name": "crypto_currency_tradewise_other_tax_pnl_table",
"@entity": "table",
"header": [
"symbol",
"quantity",
"buy_trade_id",
"date_of_aquisation",
"cost_of_aquisation",
"sell_trade_id",
"date_of_transfer",
"consideration_received",
"realized_pnl",
"expenses",
"net_realized_pnl",
"nature_of_transaction",
"taxable_pnl",
"turnover",
"income_head",
"income_sub_head",
"tax_rate"
],
"rows": [
[
"BTC",
0.00002018,
"50",
1677628800000,
0,
null,
null,
46.4140,
46.414,
0,
46.414,
"other_income",
46.414,
"46.4140",
"business_and_profession",
"virtual_digital_asset",
"30"
],
[
"BTC",
0.00015226,
"52",
1677628800000,
null,
null,
null,
380.6500,
380.65,
0,
380.65,
"gift_receive",
380.65,
"380.6500",
"other",
"gift",
"slab_rate"
],
[
"LUNA2",
0.000069648,
"53",
1677628800000,
0,
null,
null,
0.0000,
0,
0,
0,
"airdrop",
0,
"0.0000",
"business_and_profession",
"virtual_digital_asset",
"30"
],
[
"ADA",
0.013368138318,
"54",
1677628800000,
0,
null,
null,
0.0000,
0,
0,
0,
"staking_reward",
0,
"0.0000",
"business_and_profession",
"virtual_digital_asset",
"30"
]
]
}
]
},
{
"name": "tax_pnl_summary_sheet",
"@entity": "sheet",
"blocks": [
{
"name": "tax_pnl_summary_table",
"@entity": "table",
"header": [
"income_head",
"income_sub_head",
"holding_period",
"realized_pnl",
"transafer_expense",
"net_realized_pnl",
"taxable_pnl",
"tax_rate"
],
"rows": [
[
"capital_gains",
"virtual_digital_asset",
"short_term",
-5696774245.7481,
0,
-5696774245.7481,
34210335.5479,
"30"
],
[
"capital_gains",
"virtual_digital_asset",
"long_term",
0,
0,
0,
0,
"30"
],
[
"business_and_profession",
"virtual_digital_asset",
"NA",
46.414,
0,
46.414,
46.414,
"30"
],
[
"other",
"gift",
"NA",
380.65,
0,
380.65,
380.65,
"slab_rate"
]
]
},
{
"name": "transaction_summary_table",
"@entity": "table",
"header": [
"nature_of_transaction",
"total_transaction_value",
"realised_pnl",
"transafer_expense",
"net_realized_pnl"
],
"rows": [
[
"mining_reward",
0,
0,
0,
0
],
[
"trading",
41162236216.0828,
-5696774245.7481,
0,
-5696774245.7481
],
[
"staking_reward",
0.0000,
0.0000,
0,
0.0000
],
[
"airdrop",
0.0000,
0.0000,
0,
0.0000
],
[
"interest",
0,
0,
0,
0
],
[
"lost",
0,
0,
0,
0
],
[
"payment_send",
0,
0,
0,
0
],
[
"payment_receive",
0,
0,
0,
0
],
[
"gift_send",
0,
0,
0,
0
],
[
"gift_receive",
380.6500,
380.6500,
0,
380.6500
],
[
"fork",
0,
0,
0,
0
],
[
"donation",
0,
0,
0,
0
],
[
"buy_back",
0,
0,
0,
0
],
[
"other_income",
46.4140,
46.4140,
0,
46.4140
]
]
}
]
},
{
"name": "holdings_sheet",
"@entity": "sheet",
"blocks": [
{
"name": "crypto_currency_tradewise_holding_table",
"@entity": "table",
"header": [
"symbol",
"quantity",
"buy_date",
"buy_price",
"last_traded_price"
],
"rows": [
[
"BTC",
0.00017408,
1677689340000,
236282.3100,
1250888
],
[
"LUNA2",
0.00006965,
1677628800000,
0.0000,
500
],
[
"LUNA2",
2202.99000000,
1677683460000,
264808.2100,
500
],
[
"CELR",
4067.63530000,
1677683000000,
227570.9200,
89
],
[
"ICP",
513.86721500,
1677683460000,
250000.0000,
111
],
[
"LTC",
32.57321700,
1677683460000,
250000.0000,
11000
],
[
"ZIL",
34884.91500000,
1677689340000,
250000.0000,
98
],
[
"ADA",
0.01336814,
1677628800000,
0.0000,
null
]
]
}
]
},
{
"name": "schedule_vda_sheet",
"@entity": "sheet",
"blocks": [
{
"name": "income_from_transafer_of_vda_table",
"@entity": "table",
"header": [
"sr_no",
"date_of_acquisition",
"date_of_transfer",
"income_head",
"cost_of_aquisation",
"consideration_received",
"income_head"
],
"rows": [
[
1,
1677628800000,
1677683460000,
"capital_gains",
4.7346,
-41.6795
],
[
2,
1677628800000,
1677683460000,
"capital_gains",
0.3848,
0.3848
],
[
3,
1677628800000,
1677683460000,
"capital_gains",
35.7226,
-344.9274
],
[
4,
1677683460000,
1677683460000,
"capital_gains",
22001.2171,
220.0122
],
[
5,
1677683460000,
1677689340000,
"capital_gains",
41.5475,
1.114
],
[
6,
1677689340000,
1677689340000,
"capital_gains",
39935.5100,
399.3551
],
[
7,
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"capital_gains",
27186016829.4529,
30625315.537
],
[
8,
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"capital_gains",
710227272.7273,
0
],
[
9,
1677683460000,
1677683460000,
"capital_gains",
358439914.4751,
3584399.1448
],
[
10,
1677689340000,
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"capital_gains",
12907490180.3109,
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],
[
11,
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null,
"business_and_profession",
46.414,
46.414
],
[
12,
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null,
"business_and_profession",
0,
0
],
[
13,
1677628800000,
null,
"business_and_profession",
0,
0
]
]
},
{
"name": "income_from_from_vda_summary_list",
"@entity": "list",
"items": [
[
"taxable_capital_gain_income",
34210335.5479
],
[
"taxable_business_and_profession_income",
46.414
]
]
}
]
}
]
}
}
Annexures
Annexure 1: 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 |
Annexure 2: 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 |
transfer | Transaction between wallets owned by same user. |
Annexure 3: Nature of Transaction wise Tax Treatment
| Nature of Transaction | Income Head | Tax Rate | Notes |
|---|---|---|---|
mining_reward | business_and_profession | slab_rate | Tax is applicable on the fair market value of such asset. (as per the price in the open market on the valuation date). |
interest | other | slab_rate | The complete value of interest is taxable and all kinds of expenses are disallowed. |
trading | capital_gains | 30% | Tax is applicable on the "Full value of consideration", less "Cost of acquisition". |
staking_reward | other | slab_rate | The total amount received as reward is taxable and all expenses are disallowed. |
fork | other | slab_rate | The total amount received as reward is taxable and all expenses are disallowed. |
gift_recieved | other | slab_rate | The total amount received as gift is taxable at a slab rate |
gift_send | NA | NA | Any cryptocurrency that was sent as a gift, would not be considered for taxation |
lost | NA | NA | Any irrecoverable cryptocurrency from wallets, would not be considered for taxation. |
airdrop | other | slab_rate | The complete value of airdrop is taxable and all kinds of expenses are disallowed. |
donation | NA | NA | Any cryptocurrency that was donated to charity, would not be considered for taxation |
payment_received | other | slab_rate | Any crypto received as a payment is completely taxable and all expenses are disallowed. |
payment_send | capital_gains | 30% | Tax is applicable on the "Full value of consideration" (as per the price in the open market on the payment date), less "Cost of acquisition". |
other_income | capital_gains | 30% | Any other income generated from crypto is completely taxable and all expenses are disallowed. |
transfer_in | NA | NA | Transfers between wallets owned by the same taxpayer are not taxable. |
transfer_out | NA | NA | Transfers between wallets owned by the same taxpayer are not taxable. |
Wallet Charge
Since the Tax P&L Report for Crypto API is not a Paid API, no wallet charge will take place.
Versioning
This API is currently in major version 1.0. Refer to our versioning policies here
Updated 10 days ago