Crypto tax preparer CoinTracker launches in India

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The digital assets tax compliance and portfolio tracking firm’s launch in India comes after the country announced a series of measures to benefit off the gains made in cryptocurrencies. 

See related article: India tax breaks crypto’s back

Fast facts

  • Crypto users in India can use CoinTracker to aggregate and reconcile cryptocurrency and non-fungible token (NFT) activity across multiple exchanges and wallets, the company said in a statement.
  • Users in India can track capital gains, generate tax reports, and view real-time tax bill estimates on the company’s website, CoinTracker said.
  • This is the company’s first international product launch in almost four years, the statement said.
  • India imposed a 30% tax on all crypto income from April 1, and a 1% levy on transactions exceeding INR10,000 (about US$129 at current exchange rates) is scheduled to come into effect on July 1.
  • The government is also considering a factory-gates tax on Indian crypto investors using foreign exchanges, a local media report said, citing unnamed sources. 

See related article: India GST Council weighs 28% tax on crypto transactions

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