Zebpay has announced a partnership with ClearTax, India’s leading tax filing portal which helps in filing the returns. They are also giving a 10% discount to the existing customers. Tax filing is often a complicated procedure for any cryptocurrency investor or a trader. This partnership promises to simplify this process and make it easy to declare gains and file taxes.
Zebpay is India’s first Bitcoin wallet/exchange which is app-enabled and is headquartered in Singapore. It is a safe, secure and user-friendly platform which ensures hassle free transactions to the consumers. The transactions are done using a mobile number and they do not use a complicated process which calls for Bitcoin address understandings. Users can simply buy, sell or store coins through the app with a pin and a mobile number. It was voted the best new Bitcoin company at CoinAgenda conference in Las Vegas in 2014.
Zebpay recently announced on Twitter:
“Filing taxes can be quite complicated for any cryptocurrency investor, be it a trader or a long term investor. Simplifying taxation for bitcoins – Zebpay has partnered with ClearTax to help you easily declare your gains and file taxes.”
Archith Gupta, CEO of this Delhi based tax filing portal says:
“Tax filing is a problem that people can overcome through good software.”
Their main focus is on automation and design with no room for mistakes. This approach gave them an upper hand to help serve over 3 lakh users with tax filing as recorded until last year end. They have been successful in making such a cumbersome and tedious process smooth and chaos free.
Taxing Cryptocurrencies in India
According to what regulators define and depending on the usage, Bitcoin holders or those dealing with it currently can be subjected to income tax on capital gains and income from BTC is the most common taxation.
As Arun Jaitley, Indian Finance Minister hunkered down to prepare India’s fiscal budget earlier this year, there have been a lot of changes in the tax landscape.
Suhan, a tax filer and investor says:
“All in vain, till now no gain, still need to feel the tax pain? Joke’s on you I made no profit.