CoinDCX Joins Hand with KoinX for Simplifying Taxation for Users KoinX will be providing its comprehensive tax reports, automated crypto tax calculation and portfolio insights to CoinDCX's users at a nominal fee
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
CoinDCX, an Indian crypto exchange, today announced that it was partnering with KoinX, a crypto taxation and portfolio management platform, to provide an accurate compliance infrastructure for its users to file their taxes with ease and precision.
"At CoinDCX, we always prioritize our customers. As a leader in India's crypto ecosystem, we are committed towards pioneering and enhancing the customer experience on our platform. Through this partnership with KoinX, we are taking our customer-centric approach to the next level by simplifying compliance for our users. With KoinX's expertise in offering a smooth and transparent crypto taxation experience, we can further strengthen CoinDCX's mandate to cultivate a robust and compliant VDA landscape," said Rohit Jain, Managing Director, CoinDCX Ventures.
KoinX will be providing its comprehensive tax reports, automated crypto tax calculation and portfolio insights to CoinDCX's users at a nominal fee. At the Union Budget 2022, Finance Minister Nirmala Sitharaman announced a 30 per cent tax and one per cent TDS on Virtual Digital Asset (VDA) capital gains.
"Through this partnership, our primary goal is to offer CoinDCX's users a one-click crypto tax reporting solution fully compliant with Indian tax laws, enabling us to serve millions of users. We aim to empower crypto investors with the resources and information they need to accurately file their taxes and manage their portfolios," said Punit Agarwal, CEO, KoinX.
The Series D crypto exchange has over 25 investors including Polygon, Bain Capital Ventures and Steadview Capital.
