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.”