ZebPay Collaborates With TaxNodes To Simplify Crypto Taxation For Indian Investors The association will also help the two create awareness about the current and evolving regulations when it comes to governing virtual digital assets.
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
ZebPay, a crypto asset exchange, announced it has entered into a partnership with TaxNodes, an expert-assisted ITR filing platform to simplify tax filing for virtual assets in India. As a part of the association, TaxNodes will offer its facilities to ZebPay's community for precise tax calculations and compliance and provide information with regard to tax-related developments about VDA in the country.
"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, the 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," said Rahul Pagidipati, CEO, ZebPay.
With the Union Budget 2022-23 bringing about 30 per cent taxation and 1 per cent TDS to the virtual digital asset industry along with the Central Board of Direct Taxes releasing new forms for payers to disclose their VDA income, filing taxes has become trickier than ever. The association will also help the two create awareness about the current and evolving regulations when it comes to governing virtual digital assets. ZebPay users will get the advantage of discounted services through exclusive offers on TaxNodes.
"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," added Avinash Shekhar, Founder & CEO, TaxNodes.
