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How to do your ZebPay taxes

What is ZebPay?

ZebPay is a global crypto exchange launched in 2014 that is particularly popular with crypto investors in India, trading more than a billion annually. The exchange offers more than 150 cryptocurrencies to buy, sell, and trade, as well as OTC and lending.

Learn more about ZebPay security, fees, and more in our best Indian crypto exchanges guide.

How to get your ZebPay tax report with Koinly

Whatever your ZebPay transactions, Koinly makes it easy to do your ZebPay taxes. Here's how it works:

  1. Sign up to Koinly and choose your country (India) and currency (INR)
  2. Connect ZebPay with Koinly to import all your ZebPay trades safely and securely
  3. Koinly categorizes ZebPay transactions into gains, losses, and income
  4. Download your crypto tax report from Koinly
  5. File your crypto taxes online using the Income Tax Return Portal or hand your report over to your accountant

Does ZebPay report to the Income Tax Department in India?

In short, yes. ZebPay is a compliant crypto exchange operating in India, meaning it follows all the government guidance to legally operate there. As part of this, ZebPay deducts and deposits TDS to the ITD on behalf of users. The main reason TDS was introduced was to help the ITD track crypto investments for taxpayers in India. As well as this, the ITD may request that ZebPay share customer data to ensure tax compliance. You should always report your crypto investments accurately, as the penalties for tax evasion in India are steep.

How are ZebPay transactions taxed?

The tax you'll pay on your ZebPay transactions in India all depends on the transactions you've made:

  • 1% TDS: Purchasing crypto with INR or trading one crypto for another is subject to 1% TDS. ZebPay will deduct this on your behalf.
  • 30% tax: Any gain from trading, selling, or spending crypto on ZebPay is subject to a 30% flat tax. Losses from trading, selling, or spending crypto cannot be offset against gains.
  • Income Tax at your individual slab rate: Earning crypto - for example, new tokens from lending rewards - may be subject to Income Tax at your individual slab rate.

Learn more about how crypto is taxed in India.

How to get a ZebPay tax statement

For Indian investors, you'll report your ZebPay gains or income in your Income Tax Return. Any gains should be reported in Schedule VDA and any income from crypto should be reported in Schedule Income From Other Sources. You can do all of this online using the Income Tax Portal, but first, you'll need to calculate your gains and income from ZebPay investments.

To do this, you'll need to get details about each time you sold, swapped, or spent crypto including your cost base, transaction dates, transaction proceeds, and more, and then report each transaction in your Schedule VDA. As well as this, if you have income from crypto, you'll need to calculate the fair market value of that income in INR on the day you received it.

This is why most investors use a crypto tax calculator like Koinly. Koinly calculates all this for you and generates crypto tax reports that include all the information you need to easily file with the ITD. All you need to do is import your ZebPay transaction data to Koinly by uploading a CSV file of your transaction history.

Not in India? Koinly also supports many other countries around the world!

How to export your ZebPay transaction history

  1. Log in to ZebPay
  2. Select the three line profile icon
  3. Select statement
  4. Under statement type, check the following boxes: lending, trade, fiat, crypto wallet, and earning
  5. Select a start and end date - this should cover your entire transaction history on ZebPay
  6. Select submit
  7. Your file should be sent to the email address associated with your ZebPay account

How to upload your ZebPay CSV to Koinly

  1. Sign in to your Koinly account and go to wallets
  2. Select add new wallet: ZebPay
  3. Select import from file
  4. Upload your CSV file(s)

Make sure your ZebPay CSV files cover your entire transaction history on the exchange, so Koinly can identify your cost basis and calculate your gains and losses accurately.

How do I troubleshoot my ZebPay integration to Koinly?

If you're having any trouble at all connecting ZebPay and Koinly, these resources may help:

Calculate your ZebPay taxes

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Does ZebPay have tax documents?

You can download a TDS statement on ZebPay. If you're looking for a more comprehensive tax report, you'll need to use your ZebPay transaction history instead

How do I get ZebPay tax documents?

The easiest way to get a ZebPay tax document is to export a CSV file of your ZebPay transaction history and upload it to an Indian crypto tax calculator like Koinly. Koinly can then calculate your gains, losses, and income for you and generate your crypto tax report, ready to help you file your ITR online or hand over to your accountant.

Does ZebPay provide financial or end of year statements?

Yes. You can export a consolidated account statement from ZebPay under the statements section of your account.

Does ZebPay deduct TDS?

Yes. ZebPay deducts TDS on behalf of users in India.