Question 1

Do you give crypto investment tips?

Accepted Answer

No. This desk is limited to Indian tax computation, books, TDS, and ITR disclosure for virtual digital assets. Investment or trading advice is out of scope.

Question 2

Which Act sections apply — 1961 or 2025?

Accepted Answer

For income up to 31 March 2026, cite the Income-tax Act, 1961 (e.g. Sections 115BBH and 194S). From 1 April 2026, the Income-tax Act, 2025 applies — special-rate VDA tax under Section 194 (Table S. No. 4) and VDA TDS under Section 393(1) [Table Sl. No. 8(vi)]. We cite both during the transition.

Question 3

Can crypto losses offset salary or business income?

Accepted Answer

Under the VDA special regime, loss set-off is tightly restricted. We compute and disclose as the law requires and document the position — we do not invent set-offs that the statute does not allow.

Question 4

What if my exchange statements are incomplete?

Accepted Answer

We rebuild from available CSVs, wallet exports, and bank trails, and note residual gaps. Incomplete records increase notice risk — early gap analysis is part of the engagement.

Question 5

Is GST always applicable on crypto?

Accepted Answer

Not automatically for every holder. GST may arise where the activity looks like a taxable supply or intermediary service. We flag GST risk and involve the GST desk when facts warrant — without forcing a registration you do not need.