Reporting framework, corporate tax and individual tax treatment for digital assets in India, from CryptaCount's jurisdiction database covering 72 countries.
India: tax & reporting data
General Information
Default Framework
IFRS
Permitted Frameworks
IND_AS, IGAAP
IFRS Mandatory For
Listed, banks, large companies use Ind AS (IFRS-converged). Others: IGAAP.
Tax Year
Fiscal Year (end M3)
Functional Currency
INR
FX Source (Reporting)
RBI
FX Source (Tax)
CBDT
Transaction Rate
Daily Spot
Hyperinflationary
✗ No
Reporting — IND_AS
Framework Available
✓ Yes
Crypto Classification
Intangible Asset, Inventory
Classification Notes
IAS 38 intangible (most common); IAS 2 inventory if held for sale in ordinary course. No dedicated IFRS crypto standard.
Measurement Basis
Historical Cost
Fair Value (Revaluation)
Permitted Cost Methods
FIFO, WAVG, Specific ID
Prohibited Cost Methods
LIFO
Impairment Required
✓ Yes
Impairment Type
IAS 36
Reversal Allowed
✓ Yes
NRV Write-down
✗ Not required
Fair Value Hierarchy
Level 1
Recent Standards
No dedicated IFRS crypto standard. IFRIC agenda decision (2019) confirmed IAS 38/IAS 2. IASB crypto project in pipeline, no ED yet. Ind AS converged with IFRS. Mandatory for listed/large entities.
Corporate Tax — Rate & Classification
Corporate Tax Rate
25.17%
Crypto Classification
Special Regime
Notes
Section 115BBH: 30% flat tax on VDA (virtual digital asset) gains. No deductions except cost of acquisition.
Corporate Tax — Cost Basis
Measurement Basis
Historical Cost
Default Cost Method
FIFO
Permitted Methods
FIFO
Taxpayer Can Elect
✗ No
Country Override
VDA REGIME
Override Notes
Section 115BBH: 30% flat on VDA gains for all taxpayers. No loss offset. 1% TDS under S.194S.
LIFO Conformity Req.
✗ No
Differs from Reporting
✓ Yes
Corporate Tax — Anti-Avoidance
Wash Sale
✗ Off
Window (before/after)
—
Same-Day Rule
✗ No
Loss Restriction
NO OFFSET
Loss Carryforward
0 years
Corporate Tax — Holding Period
Holding Period Benefit
✗ No
Period
—
Benefit Type
—
Corporate Tax — Crypto Event Treatment
Staking Rewards
FMV at Receipt
Gas Fee Treatment
Add to Cost
Gas = Disposal of Native
✓ Yes
Crypto↔Crypto Taxable
✓ Yes
DeFi Wrapping
Unclear
Fork Cost Basis
Zero
Individual Tax — Regime
Tax Regime
Flat Tax
Regime Notes
Section 115BBH: 30% flat on ALL VDA gains. No deductions except cost of acquisition. No loss offset. 1% TDS.
Tax Rate
30%
Rate Notes
30% flat + 4% cess = 31.2% effective. No deductions. No loss offset against any income.
Individual Tax — Cost Basis
Measurement Basis
Historical Cost
Cost Method
FIFO
Method Electable
✗ No
Permitted Methods
FIFO
Country Override
VDA REGIME
Individual Tax — Exemptions
CGT Exempt
✗ No
Exempt Conditions
—
Holding Period
—
HP Benefit
—
Annual Exemption
—
Threshold Exemption
—
Individual Tax — Anti-Avoidance
Wash Sale
✗ Off
Same-Day Rule
✗ No
Superficial Loss
✗ No
Loss Restriction
NO OFFSET
Loss Carryforward
0 years
B2C vs B2B Differences
Differs from B2B
✗ No
Notes
Tax: 30% flat, no deductions, no loss offset. FS: standard Ind AS treatment.
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