Established in 2018, Delta is a cryptocurrency exchange that provides a platform for users to buy and sell cryptocurrencies under various contracts. The platform offers futures, options, and perpetual contracts on various cryptocurrencies. It also contains advanced trading tools and other financial services like Straddle, Robo strategies, staking and options analytics. Pankaj Balani and Jitender Tokas launched the platform intending to build the most reliable cryptocurrency derivatives exchange.
Since Delta Exchange offers a variety of contracts, you will need to categorise the transactions in an order while making the tax report. To ease this challenging task, you can use KoinX, an automated tax calculation tool, to organise your transaction and provide a comprehensive tax report.
You can start using KoinX by integrating your Delta account with KoinX. We will guide the steps you need to follow for seamless integration.
KoinX will calculate your crypto tax, so you can focus on improving your investment strategy instead.
A step-by-step guide on how to generate your Delta Exchange tax report with KoinX
Step 1: Log in to your Delta Exchange account.
Step 2: On the top right corner, click on the Profile section.
Step 3: Click on Transaction Logs.
Step 4: In the Fill History, please click on the Time Period and apply the custom time period filter.
Step 5: Select the date range of your trades.
Step 6: Please click on the Download button to download your trade history.
Step 7: Please click on Asset History and select the time period of your trades.
Step 8: Click on the Download button to download all your asset’s history.
Step 9: Now, log in to your KoinX account.
Step 10: Click on the Integrations section in the navigation bar.
Step 11: In the search bar, search for Delta Exchange exchange and select the exchange.
Step 12: Upload your downloaded files and hit the Submit button.
How To Easily Calculate & File Your Delta Exchange Taxes with KoinX
Step 1: Add all the chains and exchanges where you have an account.
In the integration section of KoinX, you’ll find all the major exchanges and wallets that can be integrated with the KoinX automated system. You must upload all the transaction data files on KoinX so that it can start computing your gains and losses.
Step 2: Review your transactions.
Before computing the gains and losses, KoinX will provide you with an overview of your transaction in an organised manner. You may find some warning indications about your portfolio, and you can refer to this article to address them.
Step 3: Generate your tax reports for the selected financial year
KoinX always stays updated about the latest tax regulations and provides 100% accurate tax reports that comply with the tax regulations. You can get the specialised report if you choose the business gains option and capital gain if crypto is your secondary income.
Step 4: File your taxes
You can export the comprehensive tax reports directly from KoinX and share them with tax professionals to get advice before filing.
Important Things to Consider While Generating Your Delta Exchange Tax Report with KoinX
- While importing your transaction history, ensure you have downloaded it from the beginning of your account. It will help generate a 100% accurate and complete tax report.
- While importing your transaction history from your Delta account, you may have to download multiple files, so make sure that you label them correctly to avoid confusion and gaps in data.
- You can use the Sync Now option in KoinX to synchronise the latest transactions of your Delta account with KoinX automatically.
You can say goodbye to the hassle of being on top of your crypto taxes and making your tax reports manually. With KoinX, you will have peace of mind while your taxes will be managed optimally.
Frequently Asked Questions
Do I need to report my Delta Exchange for tax purposes?
Yes, if you are engaged in a crypto transaction through Delta, you need to report its transaction for tax purposes. Crypto is widely considered a new asset class; many tax laws and regulations are mandated on it, which every individual engaging in the transactions has to follow.
Does Delta Exchange report to the Income Tax Department?
Delta Exchange does not report to the Income Tax Department on its user’s taxes. It is a cryptocurrency platform that provides a secure platform to conduct various cryptocurrency buying and selling transactions.
Does Delta Exchange provide tax reports?
No, Delta Exchange does not provide tax reports. It only facilitates trading a wide range of cryptocurrencies on its platform. KoinX will provide you with errorless tax reports of your crypto portfolio.
How are Delta Exchange transactions taxed?
Delta transactions or any crypto transactions are taxed according to the tax laws created by the concerned authority of the country. In India, the crypto tax regulations were stated in the Budget 2022: transfer of an asset worth more than Rs 50000 will have a 1% Tax Deduction and all the gains from trading cryptocurrencies are subject to 30% tax.
How does Delta Exchange tax reporting with KoinX work?
When you integrate your Delta account with KoinX, upload all the transaction history files. KoinX will compute all the gains and losses from the transaction data. It will provide a preview of your tax liabilities and provide a tax report that is downloadable in various file formats.
What are the most common issues with importing transactions from Delta Exchange to KoinX?
While importing the transaction to KoinX, you may have to handle multiple transaction history files. You must label it and sort it according to the date of the transactions to avoid any confusion.
How do I troubleshoot my Delta Exchange integration with KoinX?
When you face an issue while integrating your Delta account with KoinX, you can reach the customer care service of KoinX. They will help you solve all the problems regarding the integration process. You can connect with the team through the chat box on the site, Twitter, or email – support@koinx.com
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