Bybit.
Safety facts, TDS and tax for Bybit users in India.
Incidents
- Jan 2025: Fined ₹9.27 crore by FIU-IND for serving Indians without registering; registered and restored services in 2025. Details
- Feb 2025: About $1.5B in ether stolen in a hack attributed to North Korea; Bybit said client assets were backed 1:1.
Tax for Bybit users
- Gains from selling or swapping crypto are taxed at 30% plus 4% cess. Losses can’t be set off. Calculate your tax.
- 1% TDS on sales shows in your AIS and Form 26AS. If it’s more than your tax, claim the difference back. Estimate your refund.
- Report every sale in Schedule VDA of ITR-2 or ITR-3. Step-by-step guide.
- P2P trades carry a risk of bank account freezes. How to reduce it.
Frequently asked questions
Is Bybit safe?
Bybit is registered with FIU-IND, and has had 2 major incidents (Jan 2025, Feb 2025). No exchange is risk-free: use 2FA, a withdrawal whitelist, and don't keep more on any platform than you need. Read our full guide: is Bybit legal in India?
Is Bybit registered in India?
Bybit is listed as registered with FIU-IND, India’s anti-money-laundering regulator. Registration is not a safety guarantee or a licence.
Does Bybit deduct 1% TDS?
On P2P trades, the buyer is generally responsible for deducting 1% TDS. Check whether your trades on Bybit have TDS shown in your AIS.
Does Bybit report to the Income Tax Department?
Platforms serving Indians report crypto transactions and TDS, which appear in your AIS. From 2026, platforms face penalties for failing to report. Assume your trades are visible to the tax department.
How do I get my Bybit tax report?
Most exchanges offer a trade history or tax statement download in the app or website. Use it with our free CSV tax report tool to prepare Schedule VDA.