About 2 crore Indians are currently invested in cryptocurrencies.
With the announcement of a 30 percent tax on digital assets, Indian investors are eager to explore ways to seamlessly and coherently evaluate their taxes
Crypto tax platform KoinX has announced the launch of a new crypto tax calculator widget, which aims to simplify taxation for cryptocurrency transactions. Cryptocurrency trading, including Bitcoin, Ether, and Matic, has become increasingly popular in recent years, and as a result, tax authorities around the world are keeping a close eye on crypto traders. With the launch of the new tax calculator widget, KoinX aims to make tax filing easier and more efficient for its customers.
“Approximately 2 crore Indians are currently invested in cryptocurrencies, and Indians have more than $5.3 billion in currency. With the announcement of a 30 percent tax on digital assets, Indian investors are eager to explore ways to seamlessly and coherently evaluate their taxes; a platform like KoinX is useful for simplifying crypto taxation,” KoinX said in a statement.
It added that this crypto tax calculator widget will benefit exchanges and crypto projects by providing them with a value-added service that can increase user engagement and loyalty. Users will benefit from a tool that simplifies taxation for cryptocurrency transactions.
Accounting and tax preparation services that integrate the tax calculator widget can also be beneficial by providing their clients with a tool that simplifies the tax process for cryptocurrency transactions.
Punit Agarwal, founder of KoinX, said: “We understand that tax filing can be a challenging and time-consuming process for cryptocurrency traders. With our new tax calculator widget, we hope to simplify the process and help our customers file their taxes easily and accurately. Our innovative tool is designed to educate users and make them aware of exchanges, crypto projects, news websites, and accounting and tax preparation services. We believe this value-added service will increase user engagement and loyalty and contribute to the legitimacy of the cryptocurrency industry.”
By simplifying the crypto taxes for exchanges, crypto projects and news websites, the brand can increase user engagement and retention, increase credibility and attract new readers interested in cryptocurrency taxes.
The new tax calculator widget is now live and free for all KoinX users.
Read all the latest business news, tax news and stock market updates here