Crypto Tax Filing For Binance Users | Income Tax Return Filing For Binance Investors Online - ClearTax (2024)

Upload your Crypto Transaction Report in just a few easy steps

Follow the below steps for downloading your Transaction report & start crypto tax filing journey on Cleartax

STEP 1

Crypto Tax Filing For Binance Users | Income Tax Return Filing For Binance Investors Online - ClearTax (1)

Login to account

Go to https://www.binance.com/en and login to your account

STEP 2

Crypto Tax Filing For Binance Users | Income Tax Return Filing For Binance Investors Online - ClearTax (2)

Go to Transaction history

Go to ‘ Transaction History’ from the 'Wallet' settings on your dashboard

STEP 3

Crypto Tax Filing For Binance Users | Income Tax Return Filing For Binance Investors Online - ClearTax (3)

Select Financial year

Select the financial year as ‘FY 2022-2023’ and select 'Date Range' from the dashboard

STEP 4

Crypto Tax Filing For Binance Users | Income Tax Return Filing For Binance Investors Online - ClearTax (4)

Download the report

Click on ‘Report transaction records’ & check to select 'Spot' & click on 'Generate'.Cross-verify to see if all the transactions are downloaded

Frequently Asked Questions

I have my crypto investments on Binance. How will Cleartax help me in my ITR filing?

Cleartax is a super simplified & easy tax filing platform where users can file their returns in just 3 minutes. Crypto Investors and traders of Binance can login to Cleartax and upload their Trading/Transactions report from their Binance account, post which they can file returns either themselves on Cleartax's platform or take help from one of Cleartax's tax experts

Is it necessary to attach any documents along with the return of income?

ITR return forms are attachment-less forms and, hence, the taxpayer is not required to attach any document (like proof of investment, TDS certificates, etc.) along with the return of income (whether filed manually or filed electronically). However, these documents should be retained by the taxpayer and should be produced before the tax authorities when demanded in situations like assessment, inquiry, etc.

Can I file my ITR completely online?

Yes, you can either Self-file (DIY) on our platform or choose from one of our Expert assisted plans, based on your financial situation. And since we are a registered ERI (E-Return Intermediary) with the ITD, we can file your taxes completely online with an option for e-verification of returns as well.

What ITR do crypto investors need to file?

The ITR form may change depending on the income situation you have, if you trade in Equity (Domestic & Foreign), crypto/VDAs, mutual funds & ETFs, it falls under the head 'Income from Capital Gains' & hence you should file ITR-2. If you trade in F&O and intraday, it falls under the head 'Income from business & profession' & hence you should file ITR-3. When filing your Income tax return using Cleartax, we choose the right form for you based on your financial situation

If I have paid excess tax, how will it be refunded to me?

You can claim a refund of the excess tax paid by filing your Income-tax return. It will be refunded to you by crediting it to your bank account through ECS transfer. It is important to pre-validate your bank account details before filing your income tax return.

What are the ITR filing plans available with ClearTax?

There are 2 kinds of filing plans available at ClearTax - DIY filing plans, CA-assisted plans, and LIVE ITR filing plans. With the DIY filing plans, you can file your ITR in just 3 mins and 3 simple steps. The CA-assisted plans give you a dedicated tax expert to help you file your taxes.

Crypto Tax Filing For Binance Users | Income Tax Return Filing For Binance Investors Online - ClearTax (2024)
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