Need guidance on ITR for crypto gains withdrawn through Mudrex (never bought/traded crypto in India)
I'm looking for some guidance regarding my tax situation.
Throughout most of 2025, I launched and traded memecoins and made a profit. Most of the launching/trading was done using third-party software, and I used a large number of wallets. Unfortunately, I no longer have access to all of those wallets, so I can't generate a complete transaction history.
Here's my situation:
- I originally purchased my crypto while I was living in Canada in 2025.
- I never bought crypto in India.
- I never traded on any Indian crypto exchange.
- I returned to India in May 2025 and went back to Canada in July 2026.
- I withdrew approximately USD 11,800 (converted to INR) through Mudrex. The withdrawal was in USDT, and TDS was deducted by Mudrex.
Now that the ITR filing deadline is here, I'm unsure what my options are.
My main questions are:
- Am I still required to report these gains in my Indian ITR?
- Since TDS was already deducted by Mudrex, what additional tax obligations might I have?
- How should I handle this if I no longer have access to all of my wallets or complete transaction records?
- Does the fact that I purchased the crypto in Canada (and not India) change anything?
- Has anyone been in a similar situation, and what did you do?
I'm planning to consult a crypto CA, not really sure whom to reach out to ...
Thanks in advance!