Quick Summary Box:
Category | Information |
Supported Methods | OAuth |
Estimated Time | 5 to 10 minutes |
Platforms Supported | Web and Mobile |
Filing Support | 100+ Countries |
Ideal For | Investors, Stakers, Traders |
Get Started |
BitBNS is a popular Indian cryptocurrency exchange that provides access to a wide range of crypto assets through both its mobile app and web platform. Known for its advanced trading features, SIP options, and staking products, BitBNS offers a comprehensive experience for both new and experienced crypto investors.
However, tax season can be confusing when dealing with multiple crypto transactions. That’s where KoinX comes in. With a secure OAuth connection, KoinX imports all your BitBNS transactions automatically and classifies them for accurate tax reporting. You can generate country-specific tax reports in minutes, making compliance easy and stress-free.
How to Integrate BitBNS with KoinX?
You can integrate Binance through the OAuth method through web or mobile.
Step 1: Login to your KoinX account.
Step 2: Please click on the Integrations section on the navigation page.
Step 3: In the integrations page, click on Add Integration and choose the Bitbns exchange.
Step 4: Please click on the Connect Bitbns button.
Step 5: You will be redirected to Bitbns OAUTH page, click on the Allow button to integrate with KoinX.
Step 6: After successful integration, you will be directed back to KoinX, where you can view all your transactions within a couple of seconds.
Integrate Bitbns With KoinX (Mobile View)
Step 1: Log in to your KoinX account.
Step 2: Click on the Integrations icon at the bottom left.
Step 3: On the integrations page, click on Add Integration and select Bitbns.
Step 4: Click on the Connect Bitbns button.
Step 5: You will be redirected to the Bitbns OAUTH page.
Login to your Bitbns account (if required), click on the Allow button to integrate with KoinX.
Step 6: After successful integration, you will be directed back to Koinx, where you can view all your transactions within a couple of seconds.
Watch How To Generate Your BitBNS Tax Report With KoinX
Join the many satisfied KoinX users who have streamlined their crypto tax reporting – watch our tutorial on generating your BitBNS tax report now.
What to Do After Integration?
Once your data is fetched on KoinX, you can do the following things:
Review Transactions:
Once your BitBNS account is connected via OAuth, navigate to the “Transactions” section in your KoinX dashboard. All your trades, transfers, and crypto income will appear here. Review the data to ensure everything has synced properly, and check that your financial year is fully covered.
Verify Auto-Classification Activities:
KoinX auto-categorises each transaction from BitBNS based on type—whether it’s a trade, reward, or internal transfer. You don’t need to make manual changes. Just confirm that all entries are correctly labelled to avoid misreporting or missed tax events.
Generate Tax Reports:
Go to the “Tax Reports” tab and select the financial year you want to file for. KoinX applies the tax rules of your selected country to generate a detailed, compliant report based on your BitBNS transactions. The report is ready for filing or for sharing with your tax advisor.
File Your Crypto Taxes With Confidence:
Your BitBNS tax report from KoinX is formatted to meet the standards of local tax authorities. Whether you’re filing online through a portal or via a consultant, KoinX ensures that your report is error-free, audit-ready, and backed by complete transaction transparency.
Common Errors and Troubleshooting
- OAuth Token Expired or Revoked: If your BitBNS OAuth token expires or you revoke access, you’ll need to reauthenticate through KoinX. A fresh connection ensures continuous syncing of your latest transactions.
- Partial Data Imported: Sometimes, the initial sync may miss a few transactions if BitBNS servers are slow. Wait a few minutes and then refresh the page or reconnect to import complete data.
- Email Mismatch Between BitBNS and KoinX: The email address linked to your KoinX account must match the one used on BitBNS. If there’s a mismatch, the OAuth authentication will fail. Use the same email ID for both.
- Unusual Delay in Import Completion: OAuth imports might take a few extra minutes depending on the size of your trading history. Allow the sync process to finish before attempting to generate your tax report.
If issues persist, feel free to reach out to our support team or visit the Help Centre for further assistance.
Need Help?
Having trouble connecting your Bitget account to KoinX?
- Visit our Help Centre
- Reach out to us on Twitter
- Email us at support@koinx.com
- Chat with us directly via live support from your dashboard
Frequently Asked Questions
Does BitBNS Deduct TDS on Crypto Transactions?
Yes, BitBNS deducts a 1% Tax Deducted at Source (TDS) on applicable crypto transactions as per Section 194S of the Income Tax Act, 1961. This TDS is applicable on sell transactions in INR/Crypto, Crypto/Crypto, and P2P markets. The deducted TDS is deposited with the Income Tax Department on behalf of users.
Is BitBNS Safe?
Yes, BitBNS is considered a secure platform for trading cryptocurrencies. It uses standard security protocols such as two-factor authentication (2FA), wallet encryption, and regular security audits. The exchange also stores a majority of funds in offline cold wallets, helping protect user assets from online threats or cyberattacks.
Does BitBNS Provide Tax-Ready Reports?
No, BitBNS does not offer tax-ready reports for direct filing. However, you can integrate your BitBNS account with KoinX using OAuth. KoinX will automatically fetch your transaction history, categorise your trades, and generate accurate, tax-compliant reports tailored to your region. This makes tax filing simple and hassle-free.
What Are Common Mistakes to Avoid When Reporting Crypto Taxes?
Common mistakes include mixing personal and business transactions, ignoring airdrops and forks, overlooking the 1% TDS, and not maintaining detailed records of all transactions. Ensuring accurate and compliant filings is crucial to avoid potential penalties.
Is BitBNS Legal?
Yes, BitBNS operates legally in India and complies with applicable financial regulations. The platform follows all KYC and AML norms required for crypto exchanges in the country. Although crypto laws in India are evolving, BitBNS remains a registered and compliant entity, allowing users to trade digital assets within the existing legal framework.
How Often Should I Download My BitBNS Trading Report for Tax Purposes?
It’s recommended to download your trading report at least once a year before tax season. Frequent traders may benefit from quarterly downloads to stay updated and ensure accurate tax reporting.
