New Delhi, Sept. 9 -- Reporting Virtual Digital Assets (VDAs) on your tax return is not easy. Cryptocurrency-related transactions require scrip-wise reporting, meaning each transaction must be reported separately. Also, different types of transactions are reported under different sections.

Spot trading, peer-to-peer (P2P) transfers and the sale of a VDA, including selling for INR or for another coin, are all reported under Schedule VDA. Cryptos received as gifts, airdrops, and staking rewards are reported under 'Income from Other Sources'. However, if the gifted coins, airdrops and cryptos received as stake rewards are sold in the future, they are treated as a sale and reported under Schedule VDA.

There's a third category of crypto futu...