WazirX Ties Up With Singapore’s TaxNodes to Simplify Crypto Tax Computations, Filings: Details
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Loading... - Arthur Khan
- 04 May 2023
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Crypto investors have found themselves confused about the right way to go in terms of tax filing process in India in the last one year.
WazirX, the Indian crypto exchange, announced its partnership with Singapore-based TaxNodes on Tuesday, May 2. The aim of this partnership is to allow WazirX users to compute their crypto taxes in India and file their taxes on a timely basis. The move is intended to simplify the understanding for investors on how taxes are computed on crypto gains as per the Indian laws. While other platforms like KoinX are already providing crypto tax related services in the southern-Asian nation, international players like TaxNodes are grabbing the opportunity to expand their services in India, where crypto gains are taxed by 30 percent.
Filing taxes is already an intricate process. Crypto investors, given their inexperience on dealing with taxes on crypto profits, have found themselves confused about the right way to go in terms of this process in India in the last one year.
“The partnership between WazirX and TaxNodes will be beneficial in enabling an ecosystem of regulatory abidance and mainstream adoption of crypto without the challenges of tax miscalculation or default,” said Rajagopal Menon, Vice President, WazirX, said in a prepared statement on Tuesday. Read More…
