CoinDCX, an Indian crypto company, has partnered with KoinX, a crypto taxation platform, with an aim to provide an infrastructure that enables users to file their taxes. As part of this partnership, investors and traders on CoinDCX platform will have access to KoinX’s crypto tax calculation and reporting.
According to an official release, customers will gain access to tax reports, tax calculation services and portfolio insights, in an interface by paying a nominal fee. Reportedly, CoinDCX users will not only be able to track their tax computation on the CoinDCX exchange, but also connect exchanges and wallets to KoinX platform.
From what it’s understood, this initiative will enable investors to track their crypto transactions, including NFTs and DeFi investments, and view their tax amount. It’s believed that users will be able to download VDA-compliant tax reports for ITR filing. Additionally, the partnership aims to ensure that CoinDCX users stay informed about tax developments and requirements in VDA industry through awareness and educational initiatives.
“Through this partnership, our goal is to offer CoinDCX’s users a crypto tax reporting solution compliant with Indian tax laws. We aim to empower crypto investors with resources and information they need to file their taxes and manage their portfolios,” Punit Agarwal, CEO, KoinX, said.