How to do your ZebPay taxes

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.

Follow these steps to download your Zebpay data:

  1. Log in to your Zebpay account
  2. Go to the transactions history page
  3. Export/download your transaction history for ALL years of trading (check with their support if you can't find this)
  4. Manually check that the file contains all your deposits, withdrawals and trades

On Koinly:

  1. Create a free account on Koinly
  2. Complete onboarding until you get to the Wallets page and find Zebpay in the list
  3. Click on it and select "File import" in the import options screen
  4. Upload the files you downloaded from Zebpay (one at a time) and click on Import
  5. Review your transactions on the Transactions page to ensure everything is tagged correctly and no missing data
  6. Go to the Tax Reports page to view your tax liability!
Having trouble connecting Zebpay with Koinly?

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!

Learn more about how to report and pay crypto tax in India.

Your frequently asked questions

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