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CoinTracker forays into India

May 25, 2022

CoinTracker forays into India
Crypto tax firm CoinTracker on May 25 announced its foray into the India market with an official product launch. The company’s entry comes at a time when the crypto industry is grappling with 30 percent tax on virtual assets and additionally will start paying 1 percent TDS, starting July 1.

The firm said that starting Wednesday, its tax compliance and portfolio tracking products will be available to all crypto users across the country.

While the base product will be free, its other products will be charged ₹699 and ₹2,499 a year. It also has an ‘unlimited’ offering but the price differs individually. These offerings can be used for both centralised and decentralised exchanges.

“It can be challenging for folks to navigate the complexity of buying, holding and transacting with cryptocurrency and nearly impossible to comply with taxes without the right tool. We built CoinTracker to solve this problem seamlessly and are excited to deliver our offering in India. We plan to rapidly expand our integrations and partnerships with all the popular exchanges and tax products used in India in the coming months, and ultimately work together to help enable mainstream adoption of cryptocurrency in India,” said Jon Lerner, CEO of CoinTracker.

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