TaxNodes will enable ZebPay users to calculate, evaluate, and file their crypto taxes.
In 2022, the Indian government implemented a tax on investments in virtual digital assets, whereby any income gained from the transfer of such assets is now subject to a 30 per cent tax
ZebPay, a crypto exchange in India, on Thursday said it has partnered with TaxNodes, an expert-assisted ITR filing platform to simplify tax filing for virtual digital assets in India. As a result of this association, TaxNodes will provide assistance to ZebPay’s extensive user community to ensure precise tax calculations and compliance, to keep them updated with the most recent tax-related developments in the virtual digital asset industry.
In 2022, the Indian government implemented a tax on investments in virtual digital assets, whereby any income gained from the transfer of such assets is now subject to a 30 per cent tax and 1 per cent TDS. The complexity of the new tax laws has led to considerable confusion among Indian retail investors and traders in India.
“Owing to this, there is a critical need to establish appropriate compliance infrastructure and enhance investor knowledge on how to file taxes correctly. Through this partnership, TaxNodes will enable ZebPay users to calculate, evaluate, and file their crypto taxes, alleviate misapprehensions and reduce the possibility of tax miscalculation,” Zebpay said.
In addition to this, TaxNodes’ end-to-end solutions will help users get the much-needed clarity on the taxes levied on their investment, thereby simplifying the taxation journey of every crypto investor in the country.
Rahul Pagidipati, CEO of ZebPay, said, “At ZebPay, we are committed to creating a regulatory-compliant ecosystem that fosters the mainstream adoption of crypto in India. This partnership is a significant step towards achieving that goal and enabling greater collaboration between stakeholders in the crypto ecosystem. With 30 per cent taxation and 1 per cent TDS, calculation of taxation on crypto has become a complex process.”
Avinash Shekhar, founder & CEO of TaxNodes, said, “Our relationship with ZebPay goes a long way back and this partnership is a new chapter in that journey. We are excited to offer our end-to-end solutions to ZebPay’s customers and are confident that they will see value in our seamless tax computation process.”
He added that the aim is to help investors calculate, evaluate, and file their crypto taxes accurately while providing them with expert advice and personalised services to trade crypto without worrying about the intricacies of tax filing.
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