Indian exchanges · 8 guides
Indian exchanges, TDS reconciled.
Every Indian exchange deducts 1% TDS on your sales and swaps, and each transfer is taxed on its own at 30% plus cess. HashBooks brings each exchange in, records the TDS per trade and gives you the Schedule VDA figures.
Your country
How it’s taxed where you live.
Shown for the country you picked at the top of the page, with a link to the full rules in the HashBooks help centre.
United States · Form 8949
- Selling, swapping or spending what you hold on Indian exchanges. Selling, swapping or spending crypto is a capital gain or loss: short-term at 10–37% if held a year or less, 0, 15 or 20% if held longer. More on Indian exchanges in United States
- Rewards and interest from Indian exchanges. Staking rewards, interest and other rewards are ordinary income at their dollar value when received; that value becomes their cost basis. More on Indian exchanges in United States
- Moving coins to or from Indian exchanges. Moving crypto between your own wallets and accounts isn’t taxable. More on Indian exchanges in United States
- Cost basis. Since 1 January 2025 cost basis is tracked per wallet or exchange; HashBooks uses FIFO, lot by lot. More on Indian exchanges in United States
Full rules: the United States crypto tax guide in the help centre, or the United States overview.
United Kingdom · SA108
- Selling, swapping or spending what you hold on Indian exchanges. Selling, swapping or spending crypto is a disposal for Capital Gains Tax: gains above the £3,000 annual exempt amount are taxed at 18% or 24%. More on Indian exchanges in United Kingdom
- Rewards and interest from Indian exchanges. Staking rewards are income at their pound value when received, and that value becomes their cost for a later disposal. More on Indian exchanges in United Kingdom
- Moving coins to or from Indian exchanges. Moving crypto between your own wallets isn’t a disposal. More on Indian exchanges in United Kingdom
- Cost basis. Disposals match same-day buys, then buys in the next 30 days, then the Section 104 pool. More on Indian exchanges in United Kingdom
Full rules: the United Kingdom crypto tax guide in the help centre, or the United Kingdom overview.
India · Schedule VDA
- Selling, swapping or spending what you hold on Indian exchanges. Each sale or swap is a transfer taxed at a flat 30% plus 4% cess on the gain. Losses can’t be set off, and only the cost of acquisition is deductible. More on Indian exchanges in India
- Rewards and interest from Indian exchanges. Staking, airdrop and other rewards are income at your slab rate when received; selling them later is a separate 30% transfer. More on Indian exchanges in India
- TDS on Indian exchanges trades. Indian exchanges deduct 1% TDS under Section 194S when you sell or swap above the threshold. It’s an advance against your tax, credited when you file. More on Indian exchanges in India
- Moving coins to or from Indian exchanges. Moving crypto between your own wallets and exchanges isn’t a transfer. More on Indian exchanges in India
Full rules: the India crypto tax guide in the help centre, or the India overview.
See the rules for your country.
Taxed or not
What creates tax, and what doesn’t.
| On Indian exchanges | Taxable in United States? | How |
|---|---|---|
| Buying crypto | No | Buying with dollars sets your cost basis. |
| Selling for cash | Yes | Capital gain or loss; short- or long-term by holding period. |
| Swapping one coin for another | Yes | A disposal of the coin you give up, at market value. |
| Rewards, staking and interest | Income | Ordinary income at fair market value when received. |
| Moving to your own wallet | No | Moving between your own wallets and accounts. |
| On Indian exchanges | Taxable in United Kingdom? | How |
|---|---|---|
| Buying crypto | No | Buying with pounds adds to your Section 104 pool. |
| Selling for cash | Yes | Capital Gains Tax above the £3,000 annual exempt amount. |
| Swapping one coin for another | Yes | A disposal at market value. |
| Rewards, staking and interest | Income | Income at the pound value when received. |
| Moving to your own wallet | No | Moving between your own wallets. |
| On Indian exchanges | Taxable in India? | How |
|---|---|---|
| Buying crypto | No | Buying with rupees sets your cost of acquisition. |
| Selling for cash | Yes | 30% plus 4% cess on the gain; 1% TDS on Indian exchanges. |
| Swapping one coin for another | Yes | A transfer of the coin you give up, taxed at 30% plus cess; TDS applies on both legs. |
| Rewards, staking and interest | Income | At your slab rate when received. |
| Moving to your own wallet | No | Moving between your own wallets and exchanges. |
Worked example
The numbers, worked through.
Illustrative figures for the country you picked, from the worked examples in the HashBooks help centre.
Illustrative · United States
| Proceeds | $3,500 |
|---|---|
| Cost basis (FIFO) | −$2,000 |
| Long-term gain | $1,500 |
| Tax at the 15% long-term rate | $225 |
Held a year or less, the same gain would be taxed at your ordinary rate, for example 22%: $330. The full example in the help centre.
Illustrative · United Kingdom
| Net gain | £20,000 |
|---|---|
| Less the annual exempt amount | −£3,000 |
| Taxable gain | £17,000 |
| £10,270 in the basic-rate band × 18% | £1,848.60 |
| Remaining £6,730 × 24% | £1,615.20 |
| Capital Gains Tax | £3,463.80 |
Your salary decides how much of the gain falls in the 18% band. The full example in the help centre.
Illustrative · India
| Sale value | ₹1,50,000 |
|---|---|
| Cost of acquisition | −₹1,00,000 |
| Gain (the ₹500 fee isn’t deductible) | ₹50,000 |
| Tax at 30% | ₹15,000 |
| Cess at 4% | ₹600 |
| Total tax | ₹15,600 |
| Less 1% TDS already deducted | −₹1,500 |
| Balance at filing | ₹14,100 |
A loss on another coin wouldn’t reduce this: VDA losses can’t be set off. The full example in the help centre.
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OpenQuestions
Indian exchanges, answered.
How is 1% TDS shown in HashBooks?
The TDS deducted on each sale or swap is recorded beside the trade, with quarterly totals per exchange to match Form 26AS and AIS.
Can losses on one Indian exchange offset gains on another?
No. Under Section 115BBH each transfer stands alone: a loss can’t be set off against any gain or carried forward.
Can HashBooks move or spend my crypto?
No. It reads data and nothing else — the product contains no code that can trade, withdraw or transfer. We never ask for a seed phrase, a private key or your exchange password. API keys are encrypted with AES-256-GCM and deleted the moment you remove the connection.
Something else? Read all questions and answers, ask us or browse the help centre.