Quick Summary Box:
Category | Information |
Supported Methods | XLSX Upload |
Estimated Time | 5 to 10 minutes |
Platforms Supported | Mobile |
Filing Support | 100+ Countries |
Ideal For | Investors, Stakers, Traders |
Get Started |
CoinSwitch is one of India’s largest crypto trading exchanges, known for its intuitive interface and beginner-friendly experience. With a strong focus on compliance and security, CoinSwitch has attracted millions of users looking to invest in digital assets with ease. However, when it comes to tax filing, tracking every transaction and converting them into compliant reports can get overwhelming.
That’s where KoinX steps in. By integrating your CoinSwitch trade history using a P&L statement, KoinX helps you automatically calculate gains, classify transactions, and generate accurate tax reports tailored to your region’s tax laws. Whether you’re filing with India’s ITD, the IRS in the US, or HMRC in the UK, KoinX ensures that your crypto taxes are managed smoothly and efficiently.
How to Integrate CoinSwitch with KoinX?
Step 1: Log in to your CoinSwitch Kuber account.
Step 2: On the left corner of the home page, click on the circular blue or the profile icon.
Step 3: Now, click on the Reports section to download the account statement.
Step 4: Please select the Tax P&L section
Step 5: Next, select the Financial year, and select all quarter and hit the send statement button.
Step 6: After downloading the statements from your email, log in to your Koinx account.
Step 7: Click on the Integrations section.
Step 8: Select the CoinSwitch Kuber exchange option.
Step 9: Now, please upload the downloaded Tax P&L file under the Tax P&L row.
Step 10: Make sure you have uploaded xlsx file type and then hit the submit button
All your transactions on CoinSwitch will now be added to KoinX.
Watch How To Generate Your CoinSwitch Tax Report With KoinX
What to Do After Integration?
Once your data is fetched on KoinX, you can do the following things:
Review Transactions:
Once your CoinSwitch integration is complete, visit the “Transactions” section in your KoinX dashboard. This area will display your entire imported trading history. Review the list to ensure all buy, sell, and swap records have been captured correctly. Double-check for missing trades or duplicates to maintain accuracy before generating your reports.
Verify Auto-Classification Activities:
KoinX automatically categorises all imported CoinSwitch transactions using intelligent detection systems. It classifies trades, swaps, and asset conversions without any manual effort required. This eliminates guesswork and significantly reduces time spent tagging transactions manually. Still, it’s a good idea to confirm that each activity is correctly labeled before moving to the next step.
Generate Tax Reports:
After verifying your data, head to the “Tax Reports” section in your KoinX account. Here, you can generate a complete tax report for your selected financial year. KoinX supports tax frameworks in over 100 countries and formats your report based on your region’s crypto regulations. Download your report in the desired format for direct filing or sharing with your tax consultant.
File Your Crypto Taxes With Confidence:
Once your report is ready, you can file your crypto taxes with full confidence. Whether you’re submitting through government portals or using a tax advisor, KoinX ensures that your CoinSwitch tax report meets official compliance standards. This makes filing seamless, saves time, and reduces the risk of errors or omissions in your crypto tax return.
Common Errors and Troubleshooting
- Unsupported File Format: Ensure the file you upload is in .xlsx format as required. Other formats like CSV or PDF are not accepted for CoinSwitch integration on KoinX.
- Incorrect Data Range: Make sure the XLSX file includes the full transaction history, especially covering the financial year you want to report. Partial data may lead to inaccurate tax calculations.
- Corrupted or Unreadable File: If the file appears damaged or fails to upload, try redownloading it from CoinSwitch or opening it in Excel to validate the data before attempting again.
- Header Mismatch Issues: Ensure that the column headers in the XLSX file are intact and match the expected format. Altered or renamed headers may cause the upload to fail.
- Duplicate Uploads: Avoid uploading the same file more than once, as it may result in duplicate transactions. Always verify before clicking the Submit button.
- Exchange Downtime or Portal Bugs: If you experience errors during upload, check if CoinSwitch is undergoing maintenance or if their export feature is temporarily down. Retry after some time.
If the issue persists, contact KoinX support or visit our Help Center for quick resolution.
Need Help?
Having trouble connecting your CoinSwitch 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
Can I Download My Tax P&L Report from CoinSwitch?
Yes, CoinSwitch allows users to download a detailed Profit and Loss report for any financial year directly from the app. Simply go to the profile section, tap on Reports, then select Tax P&L. Choose the relevant financial year and quarters, then download your report. This document is useful for tax filing and claiming TDS refunds.
Does CoinSwitch Report to the Tax Authorities?
Yes, CoinSwitch may report transaction data to the Indian Income Tax Department and other authorities as required by law. As a regulated platform, it complies with mandatory KYC and financial reporting obligations. It’s important to declare your CoinSwitch trades to avoid future tax issues.
Does CoinSwitch Provide Tax Reports?
No, CoinSwitch does not offer tax-ready reports that can be filed directly. However, it allows users to download the P&L statement in .xlsx format, which can be uploaded to KoinX for automated tax reporting.
Does CoinSwitch Deduct TDS?
Yes, CoinSwitch automatically deducts 1% TDS on all eligible crypto transactions as per Indian tax laws effective July 1, 2022. This applies to any sale, transfer, or trade involving digital assets. The deducted TDS is then deposited with the Income Tax Department on your behalf. You can find records of the deducted amount in your transaction history, which can be used while filing your taxes through KoinX.
Is CoinSwitch Safe?
Yes, CoinSwitch is a secure and compliant platform that prioritises user safety. It follows industry-standard security protocols and is SOC 2 certified to ensure data and fund protection. Whether you’re trading or storing digital assets, CoinSwitch uses multiple layers of protection to keep your account secure and your transactions private.
