The 30% tax
Gains are taxed at 30% plus 4% health and education cess, whatever your income level. Only the cost of acquisition can be deducted. Losses on one asset cannot offset gains on another or any other income, and cannot be carried forward.
1% TDS
Under section 194S, 1% is deducted at source on transfers above set thresholds. Indian exchanges deduct it automatically; on peer to peer and foreign platforms the buyer may be responsible. TDS can be claimed against your final tax.
Staking, mining and gifts
Crypto received as a gift above ₹50,000 from non relatives is taxed as income. Mining and staking rewards are generally taxed as income when received, and 30% applies when they are later sold.
Reporting
Report VDA income in Schedule VDA of the income tax return. Holdings at year end may need to be disclosed, and foreign exchange accounts may fall under foreign asset reporting.