The crypto tax compliance and portfolio tracking platform CoinTracker has ventured into the Indian markets.
CoinTracker will help Indian crypto users and traders-
- Aggregate their crypto and NFT activity across multiple platforms and wallets.
- Generate tax reports, real-time tax bill estimates and see their capital gain.
“It can be challenging for folks to navigate the complexity of buying, holding and transacting with cryptocurrency and nearly impossible to comply with taxes without the right tool. We built CoinTracker to solve this problem seamlessly and are excited to deliver our offering in India,” said Jon Lerner, the chief executive officer of CoinTracker.
CoinTracker will allow its Indian users to share their crypto tax reports with their CAs and other tax professionals. The company also released a guide to explain the current status of crypto tax rules in India.
Also Read: Indian Parliament Passed Finance Bill Charging 30% Crypto Tax
Currently, CoinTracker offers four products with zero fee for the base. Other products are in the range of ₹ 699 to ₹ 2499 per year.
CoinTracker will work with local crypto users, communities, and builders as they hire and grow their workforce in India.
The company will also partner with the major crypto platforms across the country to boost crypto adoption and usage.
Jon continued, “We plan to rapidly expand our integrations and partnerships with all the popular exchanges and tax products used in India in the coming months, and ultimately work together to help enable mainstream adoption of cryptocurrency in India.”
Although a Chainalysis report ranked India the #2 country for crypto adoption globally, India desperately needs a regulated framework for the crypto industry.
Read Also: Binance APAC Head Optimistic About India’s Crypto Future