Crypto Tax on a Loss: 2 Lakh Sale, 3 Lakh Cost
A loss-making crypto sale: zero tax on the loss, but 1% TCS still applies on sale value since it is independent of gain or loss.
Selling for ₹2,00,000 against a ₹3,00,000 cost of acquisition is a loss of ₹1,00,000, so no income tax is owed on it. A 1% TCS of ₹2,000 also applies on sale value.
- Sale value
- ₹2,00,000
- Purchase cost
- ₹3,00,000
- Transfer fees
- ₹0
Net proceeds
1% TCS applies₹1.98 Lakh
₹1,98,000
Loss cannot be offset against other income or carried forward
Loss
₹1 Lakh
₹1,00,000
Tax payable (30%)
₹0
TCS deducted (1%)
₹2,
₹5.0L sale / ₹3.0L cost
₹4,35,000 net
₹2.0L sale / ₹3.0L cost
₹1,98,000 net
₹30.0K sale / ₹20.0K cost
₹27,000 net
₹5.0L sale / ₹2.9L cost
₹4,40,000 net
₹20.0L sale / ₹12.0L cost
₹17,41,500 net
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VDA gains are taxed at a flat 30%, no expenses beyond cost of acquisition and transfer fees are deductible, and losses cannot be set off against other income or carried forward. This assumes gains are reported as capital gains, not business income.