Finance

Coin Tracker Crypto Tax all set for Indian Market

This story is all about:

  • CoinTrackers product access for Indian Crypto Users
  • Partnered with Phantom and OpenSea
  • $100 funding for the expansion of products across Indian regions

The Crypto industry & community keep spreading their roots and base across the globe. Many new crypto exchange platforms, NFT marketplace, and virtual spaces are emerging. Additionally, they are also planning the launch of exclusive and efficient products to provide profits to users. 

CoinTracker is such an interesting platform involved in crypto tax compliance & portfolio tracking product development activities to serve crypto users across the globe. Now, they are expanding their horizons and aiming to enter the Indian Market. 

CoinTracker is esteemed as the top cryptocurrency tax compliance & portfolio tracking body. It has officially announced its operation and vision in the Indian market. A large base of Indian users accesses CryptoTracker services thus by seeing the immense interest and belief in the services the organization has taken this step. 

CEO Jon Lerner stated that now Indian users will also be the active users of CoinTracker’s compliance & portfolio tracking products. Hence, All the services and products will be open and accessible for Indian users from 25th May 2022. 

Newly, to manage and control the proper regulation and functionality of the crypto world, the parliament has taken a decision. They have proposed some changes for taxpayers and cryptocurrency investors in the Finance Bill 2022. 

It has stumped and stunned crypto investors and increased the complications in the real world. As per the newly constructed finance bill, active crypto investors have to pay 30% flat income tax on their crypto transactions. Things have not stopped here.  

CoinTracker Significance in the Indian Crypto User’s Life

Moreover, this tax, 1% TDS will also be payable from this July 2022. These new taxation formulas will not be able to manage the loss from other transactions. Things will get harder for the crypto investors as no relaxation policy is available to firm the balance. 

Coin Tracker channelizes its services to multiple countries. And we know Indian users are actively involved in this crypto world’s operations. As the government is not so favorable to investors and forming the rules, a crypto tracker will be a great utility to track and monitor the transactions. Consequently, it will help people to keep track of tax liabilities generated by each crypto transactional move. 

Users just need to submit the basic requirements like their crypto wallet details for this purpose. Alternatively, the rest of the things will be managed automatically by the product. Accordingly, once the wallet details are added to the CatCoin Tracker platform then it will calculate your record transactions. Moreover, it will generate the reports. That you can use at the time of filing the Income Tax Return reports. 

Currently, Tracking and monitoring all the transactions, holdings, and crypto operations is a complicated activity to do. It consumes time. When the ITR report dates are approaching it will be much more complicated to manage things on time altogether.  

CoinTracker Plan: 

The Coin Tracker tool is handy and seamless to access, it will do everything on your behalf. 

You can access various plans on CoinTracker. Firstly, the Base Product is available without any fee. Here, Check below for further product plans: 

Hobbyist Rs.699 For one Financial Year 

Premium Rs.2,499 For one Financial Year 

Unlimited Individually Price For one Financial Year 

Hence, Access any plan and sync your crypto activity data to the platform to reduce the stress of accurate reports during the ITR. 

They have already approached OpenSea & Phantom for the collaboration for the expansion of projects. They will soon partner with other crypto market giants.

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