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Which ITR form for crypto?

Four questions. One answer. Then a guide to filling it in.

Question 1

Did you sell, swap or spend any crypto during the financial year?

Question 2

Do you have business or professional income, such as freelancing, a business, or F&O trading?

Question 3

Do you trade crypto so often that you treat it as a business?

Question 4

Did you hold crypto on a foreign exchange, or any other foreign asset?

Why ITR-1 doesn’t work for crypto

ITR-1 and ITR-4 have no Schedule VDA, the section where crypto transfers are reported. If you sold, swapped or spent crypto, you need ITR-2 or ITR-3. Full explanation: ITR-2 or ITR-3 for crypto.

Does the form change my tax?

No. Crypto gains are taxed at 30% plus cess either way. The form changes how you report them. See the complete crypto tax guide.