CoinSwitch Tax Report: How Indian Users Calculate Crypto Tax (2025)

CoinSwitch is one of the most popular on-ramps for first-time crypto buyers in India — clean app, simple buys, no intimidating order books. But that simplicity cuts both ways at tax time: the app is built for buying, not for handing you a tidy, ITR-ready tax statement. If you've used CoinSwitch this year, here's exactly how to get your trade data out and turn it into a correct tax figure.

What You're Taxed On (Quick Recap)

Before the export steps, a fast reminder of the rules CoinSwitch trades fall under:

• 30% flat tax (+4% cess = 31.2% effective) on every gain, under Section 115BBH.
• 1% TDS on most sells, which CoinSwitch deducts and deposits on your behalf — claimable against your final liability.
• No loss set-off and no carry-forward.
• FIFO cost basis — gains are computed against the oldest coins you bought first.

The catch with any single exchange report is that it only knows about trades on that exchange. If you moved coins in from a wallet or another platform, the cost basis won't be there — more on that below.

Step 1: Export Your CoinSwitch Trade History

CoinSwitch provides a transaction/tax statement you can request from within the app:

1. Open the CoinSwitch app and go to your Profile (top-left avatar) or the Account/Settings area.
2. Look for Reports, Tax, or Transaction Statement. CoinSwitch typically lets you request a statement for a date range or a full financial year.
3. Select the financial year you're filing for (e.g. 1 Apr 2024 – 31 Mar 2025).
4. Request the report. It's usually emailed to your registered address as a CSV or XLSX, sometimes within a few minutes, sometimes after a short processing delay.
5. Download the file and keep it unedited — don't open-and-resave in a way that mangles the date columns.

If you can't find the export in-app, check your email for any statement CoinSwitch has previously sent, or use the in-app support to request a full transaction statement for the year.

Step 2: Know What's in the File

A CoinSwitch statement generally includes the asset, the side (buy/sell), quantity, price, total value in INR, the timestamp, and any TDS deducted. What it does not do is compute your FIFO gains or your final tax — that's on you (or a calculator).

Two things to watch for:

• TDS entries — make sure the 1% deducted on your sells is captured. This is money you've effectively pre-paid and want to claim back. Cross-check against your Form 26AS.
• SIP / recurring buys — if you used CoinSwitch's recurring buy feature, you'll have many small buy lots. Each one is a separate cost-basis entry for FIFO. This is exactly the kind of thing that makes manual calculation miserable.

Step 3: Calculate Your Tax

Once you've got the file, you have two options.

By hand: sort every trade by date, apply FIFO to match sells against your earliest buys, compute the gain per sell, sum the gains (ignoring losses, because they don't set off), apply 31.2%, then subtract the TDS already deducted. Doable for a dozen trades; a nightmare for a year of recurring buys.

With a calculator: upload the CoinSwitch file directly to the CryptoITR calculator. It auto-detects the CoinSwitch format, parses every row, runs FIFO, applies the 30% + cess, totals your TDS, and gives you a downloadable ITR-ready report. Before it calculates anything, you'll see a parse summary so you can confirm the file came through correctly.

A Quick Worked Example

Suppose your CoinSwitch year looks like this after FIFO matching:

• Realised gains: ₹2,20,000
• TDS deducted across sells: ₹9,500

Your tax: 30% of ₹2,20,000 = ₹66,000, plus 4% cess = ₹2,640, total ₹68,640. Subtract the ₹9,500 TDS already paid and your net payable is ₹59,140. If your TDS had exceeded your liability (common for high-volume, low-margin traders), you'd be due a refund instead — see our TDS refund guide.

If You Used More Than Just CoinSwitch

Most Indian traders aren't loyal to one app. If you also traded on CoinDCX, WazirX, or a global exchange, you need all of it in one calculation — because FIFO doesn't respect exchange boundaries, and because your AIS aggregates everything. Upload each exchange's report together so the cost basis is continuous. And if you transferred coins into CoinSwitch from a wallet, add an opening balance so those sells have a proper cost basis instead of getting flagged as unmatched.

Common CoinSwitch Tax Mistakes

• Netting losses against gains — the single most common error. Losses don't reduce your taxable gains.
• Forgetting TDS — leaving the 1% TDS off your return means you overpay or miss a refund.
• Ignoring small recurring buys — each SIP buy is a cost-basis lot. Drop them and your FIFO is wrong.
• Filing the wrong ITR form — see ITR-2 vs ITR-3 for crypto.

Avoid all four in one shot: run your CoinSwitch report through the calculator and download a report that's already mapped to the right ITR schedules.