This page explains about the breakdown of tax reports.
1. Introduction
Tax reports are currently available for users in India and Canada (with a paid plan).
If you'd like to learn how to download your tax reports and transaction history, please refer to this help page.
2. India
2-1. Overview
When the reporting currency is set to Indian Rupee (INR), the financial year is fixed from April 1st to March 31st.
Please ensure that your reporting currency is "INR", cost basis method is FIFO or Average Cost Basis (ABC), and the timezone of your location is selected. You can update these settings from the Settings page if needed.
2-2. Tax report
The Tax Report (the file titled "cryptact-annual-summary-[Year]") downloaded from cryptact includes an Income Summary section, which may be required when filing taxes in India.
If you are required to report capital gains, be sure to also download the following files:
- Capital Gains Summary (the file titled "cryptact-india-capital-gains-summary-[Year]")
- Derivatives Summary (the file titled "cryptact-india-derivatives-summary-[Year]")
These reports provide the necessary details for your capital gains and derivatives income.
3. Canada
3-1. Overview
The financial year in Canada runs from January 1st to December 31st by default. Please ensure that your reporting currency is set to "CAD", your cost basis method is set to the average cost (ACB), and the timezone of your location is selected. You can update these settings from the Settings page if needed.
3-2. Reports generated for Canada
When your settings are configured for Canada, cryptact generates one localized report in addition to the transaction list:
- Summary Report — A detailed breakdown of your capital gains, income, and expenses for the financial year.
4. Other supported countries (including US and Japan)
4-1. Overview
The financial year is from January 1st to December 31st by default. (Year end month changes depending on the reporting currency you selected. For mode details: Supported Reporting Currencies)
Please ensure your reporting currency and cost basis method are correct, and the timezone of your location is selected. You can change these settings from the Settings page if needed.
- cryptact offers transaction history (file name: cryptact-ledger).
- If you file taxes in Japan, you can proceed with tax filing using the current cryptact features. Please refer to our blog for a guide on how to file taxes by yourself using cryptact. https://www.cryptact.com/en/blog/cryptocurrency-how-to-taxfiling-en