Don't get stung! Let Koinly calculate your crypto taxes & reduce your ITD tax bill. Simple & Reliable.
Income Tax Department compliant
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One-click ITD tax report generation
The Income Tax Department has sent out letters to thousands of crypto traders in the last few months.
If you are one of the (un)lucky ones then the task of getting your transaction history sorted for multiple years can seem daunting.
Koinly has been built from the ground up to help cryptocurrency investors - just like you - get their taxes in order.
All you have to do is import your transaction history from your exchanges / wallets and let Koinly handle the rest!
Koinly can pull data automatically from Indian exchanges like WazirX, ZebPay and others.
Get a glimpse of your profit/loss for any tax year - for free!
Whether you are filing yourself, using a tax software like TurboTax or working with an accountant. Koinly can generate the right crypto tax reports for you.
"Huge time saver when it comes to taxes, very customizable and useful in planning next trades"
"Finally a tool that can handle DeFi operations properly! Very happy so far"
"Uploading data was very straightforward and easy. Will definitely be back next year!"
Yes, India's Minister of Finance has advised that all cryptocurrencies including NFTs are classified as Virtual Digital Assets and taxed as income.
Profit from the transfer of any virtual digital asset is taxed at the rate of 30%. This rate is the same as India's top income tax bracket.
No. Crypto gains are solely viewed as income in India. There is no opportunity to treat cryptocurrency as a capital asset. Discounted tax on long term versus short term gains is not an option. No deduction, except the cost of acquisition, will be allowed while reporting income from the transfer of digital assets.
Yes. Any exchange of cryptocurrencies is a taxable event in India. For ex. if you exchange Bitcoin for Ripple, the ITD will treat this as a sale of Bitcoin at the market price of the XRP you received.
While the IDT has not released guidance on DeFi transactions specifically, DeFi profits are likely to be considered income and taxed at a flat Income Tax rate of 30%.
Koinly supports all of the top exchanges including those popular in India like Unocoin, WazirX, CoinDCX and Zebpay. Even margin trades and futures on Binance, Kraken & others are supported.
Koinly automatically imports your transactions, finds all the market prices at the time of your trades, matches transfers between your own wallets, calculates your crypto gains/losses and generates your tax reports!