Crypto taxes, accounting & compliance made calm. $200B+ processed across 600M+ transactions Clear reporting. Confident decisions.
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ITR-2 filing is officially LIVE! 🚨
If you traded crypto this year, your transaction history matters now.
From profits and losses to TDS deductions; this is the time to start tracking everything properly before filing season gets hectic.
Track, calculate, and organise your crypto taxes seamlessly with KoinX.
🔗 ITR-2 Utility: incometax.gov.in/iec/foporta…
🔗 Calculate your crypto taxes — Link in Bio!
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🚨 Does your crypto ITR match your AIS?
Crypto sales and 1% TDS reported under Section 194S can show up in your AIS. If your ITR or Schedule VDA misses these transactions, it may lead to questions from the Income Tax Department.
Trade on multiple exchanges? Check your AIS before filing.
What if there’s a mismatch? Find out in Part 2.
Follow KoinX for more crypto tax updates.
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KoinX retweeted
Did you know you can claim a refund on the 1% TDS deducted when you sell crypto? 👀
Even if you made a loss, the TDS deducted can be claimed while filing your ITR.
📌 Check Form 26AS and AIS for your TDS details.
📌 Claim eligible TDS in your ITR.
📌 If your TDS exceeds your tax liability, the excess may be refunded.
⚠️ Don’t forget to e-verify your ITR and pre-validate your bank account.
What happens if you never claim your crypto TDS? Find out in Part 2.
👉 Follow KoinX so you don’t miss it.
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KoinX retweeted
🚨 Filed your ITR but forgot to claim your crypto TDS? 👀
If your exchange deducted 1% TDS on crypto trades, not claiming eligible credit could mean paying more tax than necessary.
For example, if your tax liability is ₹31,200 and ₹10,000 TDS was already deducted, you may only need to pay the remaining ₹21,200, subject to your final tax calculation.
Already filed your ITR? Check whether you can still file a revised return within the applicable deadline.
⚠️ Missed the deadline? An updated return (ITR-U) generally cannot be used to claim or increase a refund.
Also, make sure your crypto transactions are reported correctly. A mismatch between your AIS and ITR can raise questions.
👉 Connect your exchanges to KoinX and get your crypto tax report ready. ( Link in bio )
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🚨 Filed your ITR but forgot to claim your crypto TDS? 👀
If your exchange deducted 1% TDS on crypto trades, not claiming eligible credit could mean paying more tax than necessary.
For example, if your tax liability is ₹31,200 and ₹10,000 TDS was already deducted, you may only need to pay the remaining ₹21,200, subject to your final tax calculation.
Already filed your ITR? Check whether you can still file a revised return within the applicable deadline.
⚠️ Missed the deadline? An updated return (ITR-U) generally cannot be used to claim or increase a refund.
Also, make sure your crypto transactions are reported correctly. A mismatch between your AIS and ITR can raise questions.
👉 Connect your exchanges to KoinX and get your crypto tax report ready. ( Link in bio )
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Did you know you can claim a refund on the 1% TDS deducted when you sell crypto? 👀
Even if you made a loss, the TDS deducted can be claimed while filing your ITR.
📌 Check Form 26AS and AIS for your TDS details.
📌 Claim eligible TDS in your ITR.
📌 If your TDS exceeds your tax liability, the excess may be refunded.
⚠️ Don’t forget to e-verify your ITR and pre-validate your bank account.
What happens if you never claim your crypto TDS? Find out in Part 2.
👉 Follow KoinX so you don’t miss it.
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#CryptoTaxIndia #CryptoIndia #KoinX
That 1% TDS deducted from your crypto trades? Do you know where it went? 👀
If you’re trading crypto in India, don’t just look at your exchange P&L. Your TDS records deserve a check too.
Here’s what to do before filing your ITR.
Check your exchange’s TDS report, then compare the total with your AIS and Form 26AS under Section 194S.
Numbers don’t match? Check your PAN details and contact your exchange. Recent deductions can take time to appear in your tax records.
Don’t leave your crypto TDS unchecked until tax season.
KoinX helps bring your transactions and TDS details together in one tax report, making it easier to organise your records before filing.
Save this for your next ITR.
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KoinX retweeted
Bought crypto at different prices? The order you bought it in matters when you sell. 👀
That’s where FIFO comes in.
📌 FIFO stands for First In, First Out. It treats the crypto you bought first as the crypto you sell first.
Why does that matter? Your purchase price determines your cost basis, which affects the gain you report when you sell.
And when you’re juggling multiple buys across months, keeping track of it manually can get messy.
👉 KoinX helps match your crypto sales with the right purchase records, so calculating your gains is easier. Link in bio.
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Bought crypto at different prices? The order you bought it in matters when you sell. 👀
That’s where FIFO comes in.
📌 FIFO stands for First In, First Out. It treats the crypto you bought first as the crypto you sell first.
Why does that matter? Your purchase price determines your cost basis, which affects the gain you report when you sell.
And when you’re juggling multiple buys across months, keeping track of it manually can get messy.
👉 KoinX helps match your crypto sales with the right purchase records, so calculating your gains is easier. Link in bio.
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KoinX retweeted
Trade crypto futures? Filing ITR-2 could be a mistake. 👀
ITR-3 may apply if you have business income, including income from crypto futures trading.
⚠️ But business income doesn’t automatically mean you can deduct every trading expense. Crypto tax rules have specific restrictions, and mixing up spot and futures transactions can lead to reporting errors.
Incorrect turnover, incomplete P&L details or the wrong ITR form can also create compliance issues.
👉 Want to keep your spot and futures records separate? Connect your exchanges on KoinX and get your crypto tax report ready.
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Trade crypto futures? Filing ITR-2 could be a mistake. 👀
ITR-3 may apply if you have business income, including income from crypto futures trading.
⚠️ But business income doesn’t automatically mean you can deduct every trading expense. Crypto tax rules have specific restrictions, and mixing up spot and futures transactions can lead to reporting errors.
Incorrect turnover, incomplete P&L details or the wrong ITR form can also create compliance issues.
👉 Want to keep your spot and futures records separate? Connect your exchanges on KoinX and get your crypto tax report ready.
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KoinX retweeted
Filed your crypto ITR? Make sure you’ve got the form and details right. 👀
📌 ITR-2 is generally for crypto investors and spot traders without business income. Crypto gains are reported under Schedule VDA.
⚠️ Missed trades, incorrect cost details, unclaimed TDS or filing the wrong ITR form could lead to tax mismatches or a defective return notice.
The good news? Many filing errors can be corrected by submitting a revised return within the applicable deadline.
👉 What if you made a mistake in ITR-3? Follow KoinX for Part 2.
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Filed your crypto ITR? Make sure you’ve got the form and details right. 👀
📌 ITR-2 is generally for crypto investors and spot traders without business income. Crypto gains are reported under Schedule VDA.
⚠️ Missed trades, incorrect cost details, unclaimed TDS or filing the wrong ITR form could lead to tax mismatches or a defective return notice.
The good news? Many filing errors can be corrected by submitting a revised return within the applicable deadline.
👉 What if you made a mistake in ITR-3? Follow KoinX for Part 2.
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Your crypto exchange shows ₹40,000 profit. But what if your taxable gain is actually ₹70,000? 👀
Your exchange P&L and your crypto tax calculation aren't always the same.
Here's why Indian crypto traders need to understand the difference. 👇
Moved crypto from another exchange or wallet? Your current exchange may not know your original purchase cost.
And there's more: → Gas and transfer fees may not qualify as deductions. → 1% TDS is tax credit, not an expense. → Spending USDT to buy BTC can itself trigger a taxable transfer of USDT.
Your exchange P&L may miss important tax details.
Your app tracks portfolio performance. Your tax return needs transaction-level calculations in INR.
KoinX helps consolidate exchange and wallet activity, calculate crypto gains and prepare tax reports for Schedule VDA.
👉 Stop guessing your crypto taxes. Get started with KoinX — link in bio.
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KoinX retweeted
A crypto tax notice can arrive years after you made the trade. Will you still have the records to prove your numbers?
Exchange statements, deposits, withdrawals, fee history, acquisition prices, TDS records and wallet transactions. Losing access to even one piece of data can make tax filing and reconciliation harder than it needs to be.
This video covers the records every Indian crypto investor should download and save before they’re needed.
🔗 Connect your exchanges and wallets on KoinX to bring your transaction data together and get your crypto tax report ready. Link in bio.
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