Indian crypto media home Crypto Kanoon introduced on Sunday that it has joined palms with crypto accounting software program options platform BearTax. It acknowledged within the official tweet that BearTax will assist Indian crypto customers to generate their tax paperwork in three steps, after scanning their crypto transactions on a number of crypto exchanges and calculating revenue or loss on buying and selling.
We’ve got joined palms🤝 with @bear_tax to assist the Indian crypto neighborhood in calculating Revenue or Loss on their crypto buying and selling and generate tax paperwork in simply three simple steps.
After serving 🇺🇸, 🇨🇦, 🇦🇺, 🇯🇵. Now in accessible in 🇮🇳.
Signal Up In the present day: https://t.co/PSupKaKlBX pic.twitter.com/cTfZxvToLF
— Crypto Kanoon (@cryptokanoon) August 30, 2020
Most crypto customers have accounts on a number of buying and selling platforms to put money into a distinct and wide selection of digital property. This makes calculating revenue or loss on cumulative commerce fairly cumbersome and tedious. Subsequently, BearTax turns into very helpful software program because it calculates the person’s commerce throughout platforms, producing a single report. This report could be submitted to the chartered accountants for submitting tax and returns.
Talking about their collaboration with BearTax, Crypto Kanoon co-founder, and one of many greatest crypto influencers in South Asia, Kashif Raza mentioned within the video embedded within the tweet that almost all customers really feel the necessity for a software program to investigate and centralize their crypto information for a number of platforms. He additional added that BearTax has built-in with main Indian crypto exchanges together with WazirX, Coinome, BitBns, and Koinex.
Other than Crypto Kanoon, BearTax has additionally partnered with Quagmire Consulting, a crypto-blockchain industry-focused accounting agency primarily based out of New Delhi. Furthermore, BearTax has built-in with over 50 international crypto exchanges, together with Binance, Coinbase, Gemini, Huobi, KuCoin, and Poloniex.
BearTax will permit customers to generate their buying and selling experiences from a number of platforms at no cost. Nevertheless, downloading the experiences for submissions is a paid service. The costs are fairly affordable at Rs.499 for downloading statements for as much as 200 transactions, and Rs.2000 for as much as 999 transactions. Beside the revenue or loss calculation, BearTax can even assist customers classify their earnings. For example, it’ll let customers know whether or not the actual tokens are from airdrops, purchases, or rewards.