Crypto Tax: 5 Lakh Sale, 3 Lakh Cost
Flat 30% tax and 1% TCS on a 5 lakh crypto sale with a 3 lakh cost of acquisition and TCS threshold crossed.
Selling for ₹5,00,000 against a ₹3,00,000 cost of acquisition is a gain of ₹2,00,000, taxed at a flat 30% (₹60,000). A 1% TCS of ₹5,000 also applies on sale value.
- Sale value
- ₹5,00,000
- Purchase cost
- ₹3,00,000
- Transfer fees
- ₹0
Net proceeds
1% TCS applies₹4.35 Lakhs
₹4,35,000
₹2,00,000 gain, taxed at flat 30%
Gain
₹2 Lakhs
₹2,00,000
Tax payable (30%)
₹60,
TCS deducted (1%)
₹5,
₹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.