Partnership to benefit Indian crypto investors seeking compliance and clarity on crypto tax matters
Mumbai, May 10, 2023: ZebPay, India’s oldest and most trusted crypto asset exchange today announced that 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% tax and 1% 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. 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.
With India’s optimistic outlook towards the crypto market, and the emergence of new taxation infrastructure, the country is poised to become a key player in the global crypto market. The association between ZebPay and TaxNodes will help promote awareness about current and evolving regulations governing virtual digital assets. Apart from getting expert assistance on tax filing, ZebPay users will also receive personalized advisory services by TaxNodes, enabling them to better understand the tax implications of their digital asset investments. In addition, ZebPay users will be able to take advantage of discounted services through an exclusive offer.
Rahul Pagidipati, CEO, 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% taxation and 1% TDS, calculation of taxation on crypto has become a complex process. Our partnership with TaxNodes will not only simplify the tax filing process for virtual digital assets and offer clarity to our users, but also offer personalized tax advisory services to our users at their fingertips.”
Avinash Shekhar, Founder & CEO, 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. Our aim is to help investors calculate, evaluate, and file their crypto taxes accurately while providing them with expert advice and personalized services to trade crypto without worrying about the intricacies of tax filing.”
ZebPay is India’s oldest crypto asset exchange, with more than 5 million users. Founded in 2014, ZebPay aims to be the leading blockchain asset solution provider and the #1 financial advisor for all Indians invested in the crypto space. The company’s mission is to help its members achieve financial freedom in the Web3 economy. ZebPay’s secure and compliant exchange is available via the web and on Google Play Store and Apple App Store. ZebPay also operates an exchange in Australia and Singapore, serving 162 countries. ZebPay members can invest in Bitcoin, Ethereum, and many other crypto assets, trading both crypto-fiat and crypto-crypto pairs. ZebPay OTC, a bespoke trading desk for high-volume clients, serves both individuals and institutions.
For more details please visit: https://zebpay.com/otc/
Founded in December 2022, TaxNodes is a tax computation and expert-assisted ITR filing platform that aims to simplify the tax computing process in India. The platform has a team of experts who are dedicated towards simplifying taxes particularly in the complex world of crypto taxes. The platform is also working towards helping crypto exchanges to increase their internal controls and automate reconciliation as well as accounting.
ZebPay partners with TaxNodes to demystify crypto taxation for Indian investors