Now Reading: Crypto investors can file belated returns and claim eligible TDS refunds
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Crypto investors can file belated returns and claim eligible TDS refunds
Crypto investors can file belated returns and claim eligible TDS refunds
The 2026 income tax filing season has exposed confusion among Indian crypto investors, Livemint reports. Data shared by KoinX founder Punit Agarwal shows that just 21.83% of platform users with crypto TDS…
The Story in Brief
The 2026 income tax filing season has exposed confusion among Indian crypto investors, Livemint reports. Data shared by KoinX founder Punit Agarwal shows that just 21.83% of platform users with crypto TDS deducted filed their crypto taxes. TDS under Section 194S is an advance tax payment, not a substitute for filing an income tax return.
Investors who missed the deadline can file a belated return. ITR-2 generally covers crypto capital gains, while ITR-3 may apply to frequent trading, futures or derivatives. Non-audit ITR-3 returns can be filed until 31 August 2026, while ITR-2 belated returns can be filed until 31 December. Crypto income and transactions must be reported in Schedule VDA. Eligible TDS refunds can still be claimed through a correctly filed belated return.
The Indian Opinion
The easy claim that crypto investors either owe nothing after TDS or face automatic punishment is misleading. The practical issue is accurate disclosure, since staking, airdrops and crypto received for services also count alongside trades. Yet the filing choices can depend on how activity is classified, so taxpayers should not rely on a platform summary alone. The useful test is whether the return matches Form 26AS, transaction records and Schedule VDA entries.
Source: livemint.com
This story was synthesised by AI from the source linked above.
