Regarding taxes from regular trading.

[jaideep1000]

Wanted to ask a simple question.

Suppose I want to file my tax return from trading bitcoin.

Is it a good method to just make a weighted average between all the buys and sells I did and then calculate profit on that and pay taxes according to my tax slab?

Just started this year so please let me know if I'm missing anything.

I keep records of all my trades so have all the info on hand.(Although its quite a lot of data to process)


Thanks,
-J

[1714924994]

1714924994

[1714924994]

1714924994

[kabit9]

several threads here point to filing taxes as you would equity income.

WA method is absolutely incorrect. all buy / sell trades are accounted for individually and profit/loss calculated.

[jaideep1000]

I do know about the other threads. However wondering if anything has changed after GST.

[@prashant]

I do know about the other threads. However wondering if anything has changed after GST.

Gst has no effect on bitcoin trading fees as far i know.it is just everyone has to pay withraw fess from exchanges so there might be increment in that just like there is some increment in buying/selling using card transactions.