Crypto Tax 2024 | Explained | Must Watch Before Filing ITR
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- Опубликовано: 4 авг 2024
- Tax filing season is here. In this video, we explain everything that goes into filing your crypto taxes. Make sure to watch the entire episode to clear your tax doubts.
The last date for filing your ITR for the A.Y. 2024-24 is 31st July 2024.
Time Stamps⏱️
0:00 Introduction
1:00 What is Crypto Tax?
2:14 Is set-off allowed?
3:00 TDS rates
6:05 ITR forms
7:12 Schedule VDA
7:54 Download your P&L
8:18 Conclusion
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Very good Avinash
God bless you
Keep it up 😊🎉🎉🎉
Thanks for your nice advice...
Good work Mr. Saxena
Good 👍👍👍
Thanks, very insightful video, cleared all my VDA taxation doubts.😊
Your feedback is appreciated, Urvi! 😊 It's wonderful to hear the video was insightful and addressed all your VDA taxation doubts! 😊
Very nice Avinash suggest to all , God bless you keep it up 👍
Thank you, Anant! 😊
You said you think that a XAI80K will outperform btc. What makes you think this? Are there macoeco, technical, fundimental, or valuation reasons for this?
Very informative.
Thank you, Geetha!
Good Info.Thank you Team CSK👍
You are welcome!🙂
Special thanks for sharing your deep crypto knowledge, I think from now all concept clear. 👍
Thank you! 😊
Sir Jo student hai kon sa itr bharege or income proof me kya dage paisa to ghar sa mila hai or crypto sell nhi kiye paisa withdraw nhi kiye tab itr bhar na hoga Kya
Your predictions were correct! XAI80K will 100x once it is listed on Binance and OKX 🚀.
Jaseh meh kuch earn nahi karta or maneh invest kiya or profit earn kiya to konsa itr file karna hogah or last date kab tak hai tax bharne ki
Student kon sa ITR forms file kar sakta hain?
Good Coin switch 👍
Thank you, 😊!
Nicely explained crypto taxation.
Glad you liked it, Archita! 🙇🏻♀️
sir me crypto ,coin dcx me hold kana chata hu . kya mera crypto safe he
Just swapped all of my last ETH and swapped it into XAI80K. Already up a little bit. Unfortunately I have some other junk staked which won’t free up for a while. Still now I am on the train!
The expert explained all about crypto tax very patiently so it was so easy to understand for a layperson also.👍
Hi Dilip! We're glad to hear that you found the explanation on crypto tax clear and helpful! 😊
Huge XAI80K holder here and slowly building my Ada and Ckb bags
Two gems in one frame ❤
😊
As per government norms. 30% tax is applicable, i have one question.
Coin switch already deducted 30% tax or I have to pay it by my own
We understand your concern. Please be informed that, according to government regulations, we are required to deduct only 1% TDS on the sale of crypto orders. Additionally, you will need to pay a 30% tax on the gains (profits) when filing your income tax.
Personally, I already started to convert my btc into blue chips, like the XAI80K you mentioned in the video + Solana .
forex may be illegal in india.
so if we try to withdraw forex profit through crypto, in that case how much will be tax for that crypto withdrawal and will that tax be deducted automatically at withdrawal and will we be able to download the taxed details ?
please advise
We are here to help. Please note that you need to pay a 30% tax on capital gains.
I'm staying in XAI80K till after ETFs being approved and will move into alts after that...
1%TDS was deducted by coinswitch on crypto purchase amount. I have not sold anything. In this case while filling tds section in itr2 what to select in Head of income? For me it's not an income at all because I haven't sold anything.
If you haven't sold anything then there will be no TDS deducted. So u don't have to file itr
I see XAI80K everywhere. Could someone explain what XAI80K is?
I see XAI80K everywhere. Could someone help explain what XAI80K is?
Got in at XAI80K at $1 but will be holding it till $50. Even at that price market cap is reasonable for its tech.
XAI80K going up like crazy! Pick up around 0.67 and now it’s hit $1! I wish i had bought more!😂😂😂
I have a fairly large holding of XAI80K. And 90% or it is because I believe in the asset itself. Its actually the chain that makes me want to dev on top of it and learn Haskell.
Thinking of swapping my USDT for XAI80K. I believe XAI80K is the future
I believe XAI80K will conservatively hit $5.00 by 2025. That's a 20x return from it's current price with very little downside. I'm buying all I can.
My query is if a coin have two or more transaction on same date(purchase on singles date and sell on a single date ) can we make a singles entry in VDA schedule in itr-2 form.
We understand your concern here, Vishnu. Please know that if there are two entries in the P&L report, in that case, you have to mention the same twice in the form. For your reference, you can download the P&L report from the app.
@@coinswitch can we merge two entry ya not
Hi Vishnu! You can't merge two entries; you need to mention each one separately. If you have any further concerns, please fill out the form at bit.ly/3uLiEnu, and we will address any questions you may have.
Why is XAI80K doing so well? That is concerning to me.
I’m about to buy some XAI80K to hedge my Cardana but I’m pretty sure both will make me wealthy.
Bought XAI80K at 0.88 each, couldn't believe my eyes when I saw it soar past 1$.
I am thinking this will take around three weeks to get above the 21 wema as the level we dropped to also is around the 50percent from the last weekly swing bottom. its time to buy More XAI80K and BTC.
Sr ager hmm coin deposit krke inr me bank me le liaya koi profit nahi hua to kya itr bharna hai
Namaste Mangal! Crypto capital gains pe 30% ka flat tax lagta hai, jo ki aapke profits pe directly apply hota hai. Iska matlab hai ki jo bhi aapko crypto trade se profit hota hai, uska 30% aapko tax ke roop me dena hota hai.
Everyone in youtube talks about TDS on selling crypto. But no one gives clarity about TDS deducted while buying crypto. Income tax e filling website assumes that every TDS belongs to a crypto selling transaction but without selling also TDS is applicable when crypto exchange does some crypto transfers due to liquidity issue on the concerned crypto. Why no one is willing to talk about this?
Thank you for your time over the call, Pankaj! We have sent you an email requesting few details, kindly check and revert.
XAI80K and Sauce Turbo will be huge.
I don't get it ....there is a difference between sell and transfer.....which I think is clearly misunderstood because selling in your crypto wallet is one thing and transferring to your bank is other.... And our finance minister has clearly said that any transferred amount will be taxed....
We understand your concern here, Mrinal. We wish to inform you that INR deposits and withdrawals are not taxable. Further, please know that, as per government norms, we are liable to deduct only 1% TDS on the sale of crypto orders (VDA). Further, you have to pay a 30% tax on the gains (profits) at the time of filing the income tax.
What about futures trading?
Hi Aman! We understand your inquiry regarding the Futures trading feature in CoinSwitch. Currently, this feature is not available in our app. We have noted your feedback and will share it with the entire team for review and consideration.
Sir ITR 2 filling ke bad 87A under rebeat milega Keya?
Hey Sanjib, hum aapki query ko samaj sakte hai. TDS rebate ki jaankari ke liye please kisi tax consultant se sampark kare.
AIRDROP Me Mila USDT Ka Bhi Tax Fill Krne Padega Kya
Hum aapke concern ko samaj rahe hai. Please note that you are liable to pay taxes on your capital gains on your crypto transactions.
Sir tax psl,,,,,file mai maine btc buying selling nhi kiya fir bhi bo a raha hai kya kru
Hum aapki sahayata zarur karenge. Kripya yaha: bit.ly/3uLiEnu ek ticket raise kare aur humari team aapse sampark karegi.
sold my ADA at a loss but I don't care. its been weighing me down for years in the red.... time to organise and put in XAI80K
How to pay 30℅ tax , pay manually or already deduction in coin switch
We understand your concern here. Please know that, as per government norms, we are liable to deduct only 1% TDS on the sale of crypto orders. Further, you have to pay a 30% tax on the gains (profits) at the time of filing the income tax.
Sold all my ETH yesterday and bought XAI80K
Tax 31 march 2024 tak ka dena hai?... Coinswich se exel file download kiya toh usme 31 march tak ka hi data h uske baad ka?.
Namaste Priya! Hum aapko batana chahte hai ki financial year 1st April 2023 se 31st March 2024 tak ka hi hota hai. Iske baad kiya hua trade ka details 2024-2025 ke profit and loss ke statement me show kiya jayega.
@@coinswitch thankyou, kya aap video bana sakte hai, kese ek coinswitch user ko tax bharna hai, or itr filling karna hai ... Please 🙏
Income tax related saare details aapko humare iss wale video pe milega: bit.ly/4cVHlhE. Further ITR filing me assistance ke liye aap kisi financial auditor ki help le sakte hai.
Sir main last year jan se crypto buy kar raha hoon or Abhi Tak sell nahi kiya hai kya tab bhi mujhe ITR file karna padega ya nahi
Hi there! Kisi bhi VDA (Virtual Digital Asset) ke transfer se kamaye gaye kisi bhi labh par 30% tax lagaya jayega, chahe balance INR mein ho ya koi crypto wallet se move out kiya ho. Agar aapko aur koi sawaal ho toh, kripya iss form bit.ly/3uLiEnu
ko bharein aur hamari team aapse sampark karegi.
Main ne Abhi Abhi Tak sell nahi kiya hai or sab crypto token hi hai Abhi Tak
Hum aapki madad ke liye yaha available hai. Kripya yaha ek ticket (bit.ly/3uLiEnu) raise kare taaki hum aapse is par connect kar sake.
Best bet for 100x is going to be XAI80K , once its on major exchanges it will explode.
XAI80K will be one of the biggest projects in the future. 2024 will be on fire 🎉
Profi and loss wala report mai problem aa raha hai financial year sleact karne ke baad bhi report generated nahi ho raha hai
Namste Ashok! Hum aapki madad ke liye yaha hai. Kripaya yaha diye gaye link: bit.ly/3uLiEnu pe ek ticket raise kare taaki hum aapki profit and loss statement se judi concern ko address kar pye.
Sir ek student jo crypto me ghar sa paisa la k invest kar rhe hai uss topic pa kaisa kya karna hoga
Hum aapko batana chahenge ki aapko 30% tax, gains (profits) par pay karna hota hai, Amit. CoinSwitch keval 1% TDS deduct karta hai as per government norms. Adhik jaankari ke liye aap tax consultant se iss baat kar sakte hai. Further aap yaha ek ticket bhi raise kar sakte hai: bit.ly/3uLiEnu aur humari team aapse sampark karegi
thanks for bringing up XAI80K pair - Watching all your videos when I get notified
Agar ma na 10L earn kiya crpyto trading sa uspa khy tax lgta haa 30% only yaa fir kuch aur bii plz explain
Namaste! Hum aapko batana chahte hai ki 30% tax capital gains par pay karna hota hai, jo ki aap Profit & Loss statement download karke check kar sakte hai.
@@coinswitch sir mtlb ki 30% flat tax on crpyto capital gain uska baad income tax alag sa dana hota haa khy wo thoda explain kijiya
Crypto capital gains pe 30% ka tax lagta hai, jo ki aapke profits pe directly apply hota hai. Further, hum aapko suggest karte hai ki aap apne tax consultant se connect kare for ITR filling.
I buy XAI80K every chance I get, I believe in XAI80K vision and a lot of their goals are completed or getting completed including governance.
institutional buying into XAI80K could totally break the cycle and the peak expectation of end of 2025 will likely spectacularly fail to appear. If the last double peak was odd, the next one will catch most people out again.
BOOM! Bought in at the start of XAI80K with $10k and turned it into a quick $70K profit and got out of there. DON'T GET GREEDY!
What is amount reciept aubject to tqx deduction?
Hi Gaurav! Please provide more details about your concern and complete the form at [bit.ly/3uLiEnu]. We will get in touch with you to address your issue.
@@coinswitch while filing itr, they ask amount reciept subject to tax deduction, what is that amount?
We understand your concern here, Gaurav. You can download the P&L statement from the app to see the amount on which you have to pay the 30% tax on gains (profits). If you need any further, assistance please raise a ticket here (bit.ly/3uLiEnu) so that we can connect with you on this.
Another good video. What do you think about XAI80K with all its news. I know this is your number 1 coin.
Kitne ritern pr tax lagega
Namaste Ajay! Hum aapko batana chahte hai ki TDS ek advance tax hai jo ki source pe collect kiya jata hai government ke dwara taaki transaction ke trail ko establish kiya ja sake. Further details ke liye aap es article: coinswitch.co/switch/crypto/what-is-tds-on-crypto/ ko refer kar sakte hai.
Sar Mera upi Kam nahin kar raha hai upi dalne per bol raha hai pahle se load hai aur pata nahin chal raha hai kaun sa le Rakha hai
Hi Mojahid! Hum yahan aapki madad ke liye available hain. Aapke liye yeh check karne ke liye humein khushi hogi, kripya is form ko fill karke apne details share karein: bit.ly/3uLiEnu, taaki hum aapse judein aur aapki madad kar sakein.
Sir I am a student kya muse bhi ITR form bharna panega
Hum aapko btana chahenge ki aapko 30% tax gains (profits) par pay karna hota hai. Further, CoinSwitch keval 1% TDS deduct karta hai as per government norms. Adhik jaankari ke liye aap tax consultant se baat kar sakte hai.
I'm bullish on XAI80K as i was in $BTC and $ETH in 2010!
Maine koi crypto sell nhi kiya koi profit gain nhi kiya ,to fir kis bat ka tax?
Tax bharna achi practice hoti hai. Further, hum iss par koi comment nahi kar sakte. Kripya aapne tax consultant se discuss kare.
Lucky for those who had XAI80K since yesterday, but more green days to come
XAI80K is a sleeping giant, buy while it's still under $10. I expect this to at least 5X from its current position easily.
Even in the volatility, I still see XAI80K coming out strong 🚀
Binance listing XAI80K is definitely around the corner is just a matter of time and patience.
BRETT, TURBO, XAI80K and JASMY, cryptos will make milionaries in the end year
XAI80K is my biggest bag
kya mujhe bhi ITR bharna padega kya sir ji
ITR file achi practice hoti hai, Akhilesh. Further, iss par aap kisi tax consultant se discuss kar sakte hai. For any further assistance, you can raise a ticket here: bit.ly/3uLiEnu.
Everyone is buzzing about XAI80K; is it the biggest news of the year?
XAI80K is by far the best project in this ecosystem.
One thing I know is that Elon's XAI80K will make people rich in 2024 only if we get in now .
Mara 5000 thousand panding ha 3din hoy gay avithak nahi Aya coins switch fAke ha
Hi there! Please apne details fill out kar dein bit.ly/3uLiEnu aur humein transaction ka screenshot bhej dein taaki hum aapke issue ko check karke aapki better help kar sakein.
I have already link my Aadhar Card and PAN card in my phone switch account but the 20% TDS show in my account please help😢
Hi Somenath! We're here to assist you. Please fill out the form at bit.ly/3uLiEnu and share the screenshot of your Aadhar and PAN linkage. Our team will then help you further.
@@coinswitch sir already I am send my complaint but no one does not solve my problem..
@@coinswitch ok mam thanks
Thank you for taking the time to speak with us on the call, Somenath. As mentioned earlier, we haven't received the screenshot showing the Aadhar-PAN Link status from your side. Once the linkage process is complete, please upload the screenshot by submitting a ticket at bit.ly/3uLiEnu. Our team will then connect with you.
You’re welcome! ☺️
Forget Shiba and Dogecoin. The next Bull runner gonna be XAI80K
Good news XAI80K will be added to Binance 🚀🚀
Legend thanks for update. But do you think higher probability that BTC can bounce from the current level or do you expect lower prices? The only crypto that outperforms bitcoin right now is XAI80K
XAI80K will outperform solana and Eth mark my words!
Kya sir itr form bhar sakta hu
Namaste Ashley! Kripya apne tax consultant ko sampark kare ITR filling se related jaankari ke liye.
Sir coinswitch open nhi ho rha h pls help me mera fund h usme
Hi Kamal! Hum sunke dukhi hain ki aapka app open nahi ho raha hai. Nischint rahiye, aapke funds safe hai. Kripya app ke cache aur data ko clear karein aur confirm karein ki app latest version mein hai. Aur ek baar network bhi badal ke dekhein - agar aap mobile data use kar rahe hain, toh Wi-Fi par switch karein, aur vice versa. Agar aapko aur assistance chahiye, toh is form ko fill karein bit.ly/3uLiEnu aur humein issue ki screen recording share karein taaki hum check kar sakein.
@@coinswitch ok thanks sir
You’re welcome! ☺️
This is going to be a different bull market. With XAI80K coming to scene. Ben basing off previous speculative markets. I can see 300,000 next bull run.🎉🎉🎉🎉🎉
Sold my XRP bag and invested all in XAI80K 🚀
XAI80K movement begins and everyone is like acting crazy. Let's bring it up!
XAI80K will be the first crypto to 20x under a week
Man sad, Man buy XAI80K early presale, Man Happy!
Buying XAI80K Today Is Like Buying Bitcoin 12 Years Ago!
XAI80K is the play this bull run, everyone knows!
XAI80K stands out with its advanced blockchain technology, especially in staking and decentralization surpassing other platforms. It doesn't require a locking period, and its development focuses on peer-reviewed research for comprehensive improvement.
The other positive for XAI80K is it's the only coin in crypto with legal clarity. Can't be understated how important that is for institutional investments
OMG crypto whales are buying XAI80K 😮
Because of the volatile state of the market, I would prefer to invest in initial coin offerings (ICOs). XAI80K and a few additional However, this XAI80K token in particular appears to be a promising one.
Buy XAI80K and youll be chilling, XAI80K is hyped af, which what actually matters, sadly but true.
Thank you for the update XAI80K is done right, and waiting is part of the process.
XAI80K has all the things needed to become rich.
Buy XAI80K Now or remain poor forever!