KoinX @getkoinx

Crypto taxes, accounting & compliance made calm. $200B+ processed across 600M+ transactions Clear reporting. Confident decisions. web.koinx.com/Twitter Joined April 2018

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KoinX @getkoinx

14 hours ago

@fibonacki Classic, we get many traders who make money from unique coins but we never have to call them lol

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KoinX @getkoinx

14 hours ago

@CryptoTice_ For both, Europe and America - We're here to help you with your crypto taxes :)

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KoinX @getkoinx

14 hours ago

@Strike Do your self a favor when you sell your bitcoin, don't forget to file taxes

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KoinX @getkoinx

14 hours ago

@Shawnz1366 @NOWPayments_io Yess🫶

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KoinX @getkoinx

16 hours ago

If you trade crypto: Take control now. - Track every transaction - Check AIS on Income Tax e-Filing Portal - File TDS using Form 26QE - Or use KoinX Ignoring TDS is not delay. It is non-compliance.

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KoinX @getkoinx

16 hours ago

The real issue is not tax. It is tracking. Crypto activity creates: - Exchange logs - Bank trails - Wallet transfers If records are not maintained, filing becomes difficult.

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KoinX @getkoinx

16 hours ago

Here is how TDS actually works in filing: TDS deducted by Indian exchanges appears in Form 26AS and AIS You claim it back in your ITR Excess TDS becomes a refund.

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KoinX @getkoinx

16 hours ago

Another misconception: “I made losses, so TDS does not matter.” Incorrect. TDS applies to transactions, not profitability. You can: Be in loss AND Still have TDS compliance obligations

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A lot of crypto investors think: “If I don’t deal with TDS now, I’ll handle it during ITR.” That assumption can get expensive in India. Here’s what actually happens if you ignore crypto TDS obligations 🧵

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KoinX @getkoinx

16 hours ago

Ignore this? Penalty is mandatory. Under Section 271C, 100% of the TDS not deducted can be charged. If TDS is deducted but not deposited, Section 276B allows prosecution, with imprisonment up to 2 years plus fine.

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KoinX @getkoinx

16 hours ago

Under Section 194S, The buyer is legally required to: - Deduct TDS - Deposit it with the government - File it using Form 26QE within 30 days of month-end There is no platform exemption.

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KoinX @getkoinx

16 hours ago

Now the critical part: If you trade on: - Foreign exchanges - P2P - Decentralized platforms TDS is usually not deducted automatically. That does not remove the obligation.

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KoinX @getkoinx

16 hours ago

Now scale this. 50 trades a month 100 trades TDS applies on each transaction. For active traders, This directly impacts capital available for trading.

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KoinX @getkoinx

16 hours ago

TDS is calculated on the total transaction value. Not profit. Example: You sell crypto worth ₹2,00,000 TDS = ₹2,000 Even if your profit is low or negative.

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KoinX @getkoinx

16 hours ago

First, clarity: TDS is not the same as crypto tax. In India: 30% tax under Section 115BBH is on gains 1% TDS under Section 194S is on transactions Different purpose. Different calculation. Different consequences.

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KoinX @getkoinx

2 days ago

You know what time it is? It's taxxinn time . . . . #KoinX #CryptoTaxes #ITR #TaxSeason #IndianTaxes

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KoinX @getkoinx

2 days ago

@Octop3s Crypto transactions that carry swaps, conversions, staking, rewards, etc are counted as taxable events in some regions. So, that bcomes taxable