ZebPay was established in 2014 and is one of the fastest-growing exchanges in Singapore. It initially operated as a Bitcoin wallet and exchange, but over the years, ZebPay has expanded its services and now supports many cryptocurrencies. The platform provides a user-friendly interface and mobile apps for iOS and Android devices, making it convenient for users to manage their crypto investments on the go.
Crypto being a new asset class, gave prominence to tax regulation and rules around it. We know that taxes have always been complex in investing and trading. However, there are some powerful tools like KoinX that simplify the tax filing process of your portfolio. It provides reliable solutions to manage crypto taxes, portfolios, and accounting.
In this article, we will provide you with a detailed guide on how you can integrate ZebPay with KoinX and enable you to generate your crypto portfolio tax report.
Connecting your ZebPay account with KoinX is an easy and swift process. All you have to do is follow the detailed instructions below, and you will soon be comfortably generating your tax reports without any errors.
A step-by-step guide on how to generate your ZebPay tax report with KoinX
Step 1: Log in to your ZebPay account.
Step 2: In the top right corner, click on the profile section.
Step 3: Click on the Statements button.
Step 4: Select all the statements in the section.
Step 5: Select the start and end dates in the statements section and hit the Submit button.
Step 6: The reports will be sent to your Gmail account. Download them from the received email.
Step 7: Now, log in to your Koinx account.
Step 8: Go to the Integrations section in the navigation bar.
Step 9: Click on the ZebPay exchange.
Step 10: Upload the consolidated file you received in your email.
NOTE: Download your CSV from the ZebPay web version, NOT from mobile.
Watch how to generate your ZebPay tax report with KoinX.
How To Easily Calculate & File Your ZebPay Taxes with KoinX
Step 1: Add all the chains and exchanges where you have an account.
KoinX allows you to gather your crypto portfolio data in a single place quickly. It supports a wide range of major crypto exchanges and wallets for integration.
Step 2: Review your transactions.
The user-friendly interface of KionX enables you to understand the most about your transaction data by representing it in categories while calculating all gains and losses.
Note: If you see warnings in your portfolio, refer to this article to fix the issues.
Step 3: Generate your tax reports for the selected financial year
On the platform, you can select the Capital Gains or Business Income option according to the nature of your portfolio.
If you are not a full-time trader, you must select the Capital gains option, and if you are making crypto as the primary source of your income (full-time), you can go with the Business income option.
Step 4: File your taxes
KoinX provides you with all the necessary forms that you will need while filing your taxes. After generating the tax reports, you can download them in various formats.
Important Things to Consider While Generating Your ZebPay Tax Report with KoinX
KoinX has become a go-to tool for traders and investors to streamline their tax reporting process. This powerful tool allows you to save valuable time and use it to redefine your investment journey. A few important things to consider are:
- To synchronise the wallet transaction at any other time, please use the ‘Sync Now’ feature available on KoinX.
- KoinX provides a preview of your transaction data to help you avoid any irregularities in the tax reports.
- You must select the duration of a transaction according to your need for generating tax reports.KoinX will highlight the gaps in transaction data to ensure an errorless tax report.
Frequently Asked Questions
Do I need to report my ZebPay for tax purposes?
Yes, you must report the taxes if you have invested in crypto. According to the Indian government’s 2022 Budget, trading, selling, or spending cryptocurrencies are subject to a 30% tax on profits.
Does ZebPay report to the Income Tax Department?
No, ZebPay doesn’t report to the Income Tax Department. It is a crypto exchange that allows users to trade and invest in various cryptocurrencies. The exchange is not responsible for the tax matters of the users. However, the platform has its obligations towards the Income Tax Department.
Does ZebPay provide tax reports?
No, ZebPay does not provide tax reports as it is a cryptocurrency exchange that provides a platform for trading cryptocurrency. KoinX is the platform that will provide you with error-less tax reports of your portfolio.
How are ZebPay transactions taxed?
Yes, ZebPay transactions are taxed according to the regulation of the region you are a resident of. The Indian government’s 2022 budget states: trading or spending cryptocurrencies is subject to a 30% profit tax. It also includes 1% TDS.
How does ZebPay tax reporting with KoinX work?
After integration, the KoinX platform automatically syncs all transactions to compute your gains/losses and produce downloadable tax reports.
What are the most common issues with importing transactions from ZebPay to KoinX?
Even if the integration process is easy and swift, you must follow the guide carefully to avoid any issues. You have to select all the transaction types and the duration of the transaction data properly to get an accurate report from KoinX.
How do I troubleshoot my ZebPay integration with KoinX?
KoinX provides active customer support to help you resolve problems. KoinX support is available via live chat, social media (Twitter), or email at [email protected].