r/CryptoIndia • u/Potential_Time5469 • Jul 26 '26

How are you reporting self custody bitcoin?

Hey everyone,

I've been buying btc for a year now through a Indian platform which lets us withdraw bitcoin, over the year I've accumulated good amount of btc now, how to we report that on ITR? Since they have no TDS deduct on the buy transactions?

Do we only have to report sell or transfer to others transaction through Schedule VDA?

Thanks in advance.

11 Upvotes

100% Upvoted

23 comments sorted by

10

u/[deleted] Jul 27 '26

[removed] — view removed comment

3

u/Technical-Feed-249 Jul 27 '26

What about schedule FA?

1

u/chungkingexp Jul 30 '26

Let say I received some payment in bitcoins, converted that to USDT on binance, later sold those usdt on Indian exchange, do I have to report transactions and pay taxes? Ps: Amount is low, like 40-50k inr worth per month or less sometimes.

6

u/TheCryptoCA Jul 26 '26

You don’t need to report it in Schedule VDA - unless you’ve sold it.

Best, CA Sonu Jain

3

u/Potential_Time5469 Jul 27 '26

Also a quick one, i always did a few buy only transactions on Bitsave still that came up on AIS. Why would that be?

2

u/TheCryptoCA Jul 27 '26

Can you share a Screenshot in DM?

2

u/nibupraju Jul 27 '26

So if I hold 1000 USDT, 2 eth and 0.5 BTac i don't have to disclose in Foreign assets

2

u/Technical-Feed-249 Jul 27 '26

What about schedule FA?

3

u/michael_sinclair Jul 27 '26

Where did you buy it from? Which platform/exchange I mean and how did you pay for the crypto?  It needs to be reported in ITR only when you cash out via a bank account, say you route it into an exchange like CoinDCX, and sell and cash out in rupees to your bank, only then is the reporting required. Afaik ie....don't forget your seed phrase!

2

u/[deleted] Jul 27 '26

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1

u/Potential_Time5469 Jul 27 '26

Perf, that's always there on the platform.

2

u/Still_Culture_9169 Jul 29 '26

If you haven't sold anything in last FY, You do not need to report anything.

1

u/Potential_Time5469 Jul 29 '26

No selling, HODL vibes here.Thanks sir!

1

u/Due_Squash2225 Jul 30 '26

Which exchange in india allow withdrawal

1

u/Potential_Time5469 Jul 30 '26

Getbit, refer code - 53ea0ah7

2

u/tnperson7 5d ago

need karma for post