Cryptocurrency portfolio tracking and tax compliance platform ‘CoinTracker’ forays into Indian market
Bhubaneswar: In the backdrop of regulatory uncertainty and government imposing 30% tax on cryptocurrencies, Cryptocurrency portfolio tracking and tax compliance platform CoinTracker on Wednesday announced its foray into the Indian market.
“We are incredibly thrilled to announce that our crypto tax compliance and portfolio tracking products are now available in India! Crypto adoption in India has increased dramatically in recent years, with reports estimating that the number of crypto users in the country ranges between 20 and 100 million people. A Chainalysis report also ranked India the #2 country for crypto adoption globally, with many users interfacing across multiple use cases such as DeFi or NFTs” said a Cointracker in a blog post.
“In light of this rapid growth, Indian regulators recently outlined tax guidelines for virtual digital assets, encompassing both cryptocurrencies and NFTs. With this additional clarity, tax compliance is now top-of-mind for crypto users, their accountants, and Indian regulators” it added.
Starting today, all crypto users in India can seamlessly complete their crypto taxes through the CoinTracker experience. Users in India can now use CoinTracker to Aggregate and reconcile cryptocurrency and NFT activity across multiple exchanges and wallets. They can engage with our simplified Tax Center to see their capital gains, tax reports, and real-time tax bill estimates and share their crypto tax reports directly with chartered accountants (CAs) and other tax professionals.