CoinDCX in Partnership with KoinX Launches Assisted IT Filing for Seamless Crypto Tax Compliance
Three Tailored ITR Filing Plans: Crypto-Only, Salary + Crypto, and Comprehensive
Mumbai, June 20, 2024– CoinDCX, India’s largest and first FIU-compliant crypto exchange, in partnership with KoinX India’s most trusted crypto tax software, are thrilled to announce the launch of Assisted IT Filing for seamless crypto tax compliance. This innovative collaboration aims to simplify the tax filing process for crypto investors, ensuring a hassle-free and secure experience.
As the tax season approaches, many crypto investors face the challenge of managing tax obligations, including the 1% TDS and 30% tax on crypto profits. CoinDCX, committed to enhancing the user experience, has taken a significant step forward by integrating KoinX’s robust compliance infrastructure into its platform. This partnership goes beyond providing transaction statements, offering comprehensive assistance in filing Income Tax Returns (ITR) for crypto transactions across all exchanges, including taxes on mining crypto.
Key Features of the Assisted IT Filing Service
● Personal Tax Consultant: A tax consultant will guide users through the entire process of preparing and filing their tax returns.
● Seamless Integration: With KoinX’s seamless integration, CoinDCX users can effortlessly manage their tax obligations without disrupting their investment activities.
● Automated Tax Calculations: With a simple click, users can generate detailed tax reports and leverage automated tax calculation services.
● Comprehensive Tax Reporting: The service includes access to KoinX’s comprehensive suite of tax reporting tools, providing valuable portfolio insights and assistance in filing ITR.
● VDA-Compliant Tax Reports: Users can conveniently download VDA-compliant tax reports essential for filing their Income Tax Returns, not only for the CoinDCX exchange but also for other popular exchanges operating in India.
● User-Friendly Interface: The intuitive and user-friendly interface of KoinX ensures a smooth user experience and is available for a nominal fee.
“We are excited to partner with KoinX to offer this much-needed service to our users,” said Mridul Gupta, COO at CoinDCX. “This collaboration marks a significant step in enhancing the user experience by providing a robust compliance infrastructure to report taxes accurately. By integrating KoinX into our platform, we aim to alleviate the complexities associated with tax reporting, ultimately saving users valuable time and effort, especially during tax seasons. The Assisted IT Filing service is set to revolutionize how crypto investors manage their tax obligations, ensuring they remain compliant with regulatory requirements.”
Punit Agarwal, Founder of KoinX, stated, continuing our dedication to delivering effortless crypto tax solutions “In line with CoinDCX’s commitment to ensuring a compliant crypto trading journey, we take pride in offering a one-click solution and assisted tax filing. This feature allows users to calculate and file their taxes effortlessly, emphasizing KoinX’s dedication to providing easy integration for a user-friendly experience. KoinX focuses on reaching a larger pool of crypto investors, ultimately leading to a more significant number of compliant and satisfied users.”
About CoinDCX
Established in 2018, CoinDCX is India’s largest exchange trusted by over 1.5 crore registered users. Our mission is simple: to provide easy access to Web3 experiences and democratize investments in virtual digital assets. Being the first FIU-registered entity, we prioritize user safety and security, strictly adhering to KYC and AML guidelines. In our commitment to quality, we employ a stringent 7M Framework for listing crypto projects, ensuring users access only the safest digital assets.
Through CoinDCX Ventures, we have invested in over 15 innovative Web3 projects, reinforcing our dedication to the Web3 ecosystem.
At CoinDCX, we are leading India towards the decentralized future of Web3 with an unwavering commitment to safety, simplicity, and education. After launching a self-custodial MPC technology-backed Okto Wallet in 2023, CoinDCX has leveled up chain abstraction by building a fully expressive orchestration layer to onboard the next billion on Web3.
CoinDCX’s vision and potential have gained the confidence of global investors, including Pantera, Steadview Capital, Kingsway, Polychain Capital, B Capital Group, Bain Capital Ventures, Cadenza, Draper Dragon, Republic, Kindred and Coinbase Ventures.
About KoinX
KoinX was founded with a singular mission: to simplify the often-complex world of crypto tax calculations, reporting, and accounting. Our journey has been marked by remarkable milestones, with over 200 million transactions worth $100 billion processed to date. As the numbers continue to grow daily, we’ve become a trusted name in crypto tax management, generating over 150k+ tax reports and seamlessly integrating with 270+ platforms.
Beyond tax, we’ve ventured into crypto accounting, providing individuals and businesses with a comprehensive financial solution for their digital assets. Notably, our efforts have garnered support from prominent figures in the startup realm, including Sandeep Nailwal, Co-Founder of Polygon; Utsav Somani, Partner at iSeed; Navin Gupta, Managing Director at Ripple; and Sidharth Malik, Global CEO at CleverTap.
At KoinX, we aim to empower crypto investors worldwide by demystifying the complexities of crypto laws and taxation. We remain steadfast in our commitment to innovation, reliability, and compliance. Learn more about KoinX here-
Demonstrating a strong commitment to supporting all invested companies, CoinDCX, through its investment arm, CoinDCX Ventures, actively assists its partners in developing product-market fit to become category leaders.
