How To Calculate Your Coinswitch Taxes With Kryptos
Coinswitch is one of the most popular crypto exchanges in India. If you are using Coinswitch, follow these steps to easily connect it with Kryptos – auto-sync all your transactions, analyze your portfolio and calculate your crypto taxes in minutes.
- To get started – Sign up on Kryptos here and choose your country and currency.
- Once done, link your Coinswitch account to Kryptos. To do this, you can use any of the following methods:
- CSV. If you do not have API keys, don't worry! We also support CSV files to import all your transactions.
- Manually. Import transactions manually using our custom CSV upload feature.
- View and analyze all your transactions in a single dashboard and manage your portfolio
- Kryptos automatically categorizes all your Coinswitch transactions into gains/losses or income.
- Now you can sit back and relax while we calculate your Capital Gains Tax and Income Tax from Coinswitch
- Generate the Coinswitch tax report for free and download it once everything looks good
- File your Coinswitch taxes online or leverage our crypto tax accountant network to help you out
How To Connect Coinswitch With Kryptos Using CSV
On Coinswitch :
- Log in to your Coinswitch account on the Coinswitch mobile app.
- Tap on the profile icon on the top left.
- Scroll down to Reports.
- Under Reports, select Account Statement.
- Choose your time frame under Custom or Fiscal Year and Click on Send Statement.
On Kryptos :
- Go to kryptos.io & signup using your Google account.
- From the menu, click on Add Wallets/Exchanges. Go to the Wallets/Exchanges page.
- Search for Coinswitch or select it from the list below.
- Now, click on the Coinswitch icon.
- Choose Upload CSV. Now download the Account statement file sent to your email and upload it.
- Click on Import Your Transactions. All transactions are imported and tagged by default.
- If you wish to import custom history, select Advanced Options. Now you can specify the start and end date of your transaction history.
How are Coinswitch transactions taxed?
The crypto tax laws may vary depending on the country you reside in and other factors such as your filing status, income bracket, and marital status. But, in general, there are mainly two types of taxes applicable to Coinswitch transactions.
- Income Tax- If you are earning rewards (e.g. through lending or staking) or receiving, you may need to pay income tax.
- Capital Gains Tax- If you profit from the disposal of your crypto assets (e.g. by selling your tokens, Bitcoin, Ethereum, etc.), you incur capital gains tax.
Important things to keep in mind while integrating Coinswitch
When importing a CSV file, match your Coinswitch account Time Zone in the Kryptos import form.
Facing Issues While Connecting Coinswitch To Kryptos?
Go to Resources and head over to the Help Centre page from the dropdown menu. Or send us your queries via the Support Desk. If there’s a critical or urgent issue that needs to be resolved, you can use our live chat option on the right side of the screen or email us at firstname.lastname@example.org.