7 Crore ITRs Filed: August 31 Deadline Looms for Indian Crypto Investors

The Indian tax authority has reported that over 7 crore ITRs have been filed for Assessment Year (AY) 2026-27, with August 31 being the deadline for non-audit cases involving business or professional income.

Crypto investors and traders are required to file their returns using ITR-3, which is applicable if trading is frequent, large scale, or intended to earn profits. For those who opt for presumptive taxation, ITR-4 may be used.

The Income Tax Department has introduced Schedule VDA, requiring transaction-level details of all Virtual Digital Asset (VDA) transfers in FY 2025-26, including acquisition date, transfer date, income head, cost of acquisition, and consideration received. Crypto traders must reconcile exchange and wallet transaction histories with AIS and Form 26AS data and Schedule VDA entries.