Mudrex is a popular crypto trading platform that offers a user-friendly experience for both beginners and veterans. It provides advanced features like basket orders, in-depth charting tools, and social trading to help you navigate the crypto markets. But when it comes to tax season, even the most seasoned traders need a little help.
That’s where KoinX comes in. It consolidates your crypto transactions and generates comprehensive tax reports, saving you time and ensuring compliance. The platform seamlessly integrates with 270+ blockchains, wallets, and exchanges like Mudrex.
So read this guide to understand how to integrate your Mudrex account with KoinX.
How To Generate Your Mudrex Tax Report With KoinX
Step 1: Log in to your Mudrex account using the mobile application.
Step 2: Click on your profile in the upper left section of the screen(which displays your name’s initials or an emoji).
Step 3: In the profile section, scroll down the page and click ‘’Transaction Statement” under Reports and Statements.
Step 4: Select the financial year you want to generate your crypto tax report.
Step 5: Then click on ‘Request Statement.’ Once done, you will receive an email containing all the details of your statement.
Step 6: Once you have the reports, log into your KoinX account.
Step 7: Click on the Integration tab in the top navigation bar.
Step 8: Locate “Mudrex” under the exchange section using the search bar or scrolling.
Step 9: Upload your downloaded ‘Transaction Statement’ and click “Submit” to complete the integration process.
How To Easily Calculate & File Your Mudrex Taxes with KoinX?
Here’s how you can easily calculate your Mudrex taxes with KoinX:
Step 1: Integrate Your Accounts
Link all crypto exchanges and wallets to your KoinX account to generate comprehensive tax reports. KoinX supports integration with over 270 platforms, including Mudrex. For more details, you can read our integration guides.
Step 2: Organise And Review Transactions
After integrating your accounts, organise and review your transactions using KoinX’s intuitive interface. Easily categorise and verify your trading data to compute gains and losses accurately, ensuring compliance with current tax laws.
Step 3: Generate Tax Reports For The Financial Year
KoinX simplifies meeting your crypto tax requirements by generating clear, user-friendly tax reports. Classify trades as Capital Gains or Business Income based on your investment or trading activities.
Step 4: File Your Taxes
Once your tax report is ready, import it into your preferred tax software or provide it to your tax advisor for efficient filing.
Important Things To Consider
Here is a list of things which you must keep in mind when integrating your Mudrex account with KoinX:
- Ensure all your data and accounts are appropriately integrated with KoinX.
- Please note that KoinX does not fetch trades from Mudrex in real-time. To ensure your latest transactions are accurately synced, generate and upload the latest ‘Transaction Statement’ per the instructions above.
- Download transaction reports from the inception of your Mudrex account to identify any missing transactions, ensuring accurate and complete calculations.
- Ensure you have uploaded the current Transaction Statement on KoinX.
KoinX strives to streamline crypto tax responsibilities, allowing users to focus on profits without tax complexities. Sign up today on KoinX for simplified crypto tax management.
Frequently Asked Questions
Do I Need To Report My Mudrex Transactions For Tax Purposes?
Yes, you will have to report your Mudrex transactions for taxation purposes. In 2022, the Indian government mandated that all crypto investors and traders declare digital asset transactions under the VDA law, imposing a 30% tax on gains from these transactions. Therefore, reporting transactions from all exchanges, including Mudrex, is essential to avoid future complications.
Does Mudrex Report To The Respective Tax Departments?
Mudrex supports its legal and regulatory responsibilities by meticulously reporting financial transactions to the Income Tax Department. This dedication to transparency and compliance creates a secure environment, fostering user confidence and trust.
Does Mudrex Provide Tax Reports?
No, Mudrex does not directly provide crypto tax reports. However, it has partnered with KoinX, an automated platform that offers accurate generation of crypto tax reports from over 270 wallets, exchanges and blockchains.
How Are Mudrex Transactions Taxed?
Mudrex transactions in India are taxed per the crypto tax laws introduced in the Financial Bill 2022. Any crypto profit is taxed at a flat rate of 30%, plus a 4% health and education cess is applied to the capital gains tax amount. Moreover, the exchange on which you are selling your digital assets are liable to deduct a TDS of 1% on the selling amount.
How Does Mudrex Tax Reporting With Koinx Work?
Once you integrate your Mudrex account with KoinX, it categorises your transactions for review and computes all gains and losses. After reviewing the data, KoinX generates an accurate crypto tax report based on your transaction data. You can then download the tax report or share it directly from KoinX.
What Are The Most Common Issues With Importing Transactions From Mudrex To KoinX?
One of the common issues which you can face while importing transactions from Mudrex to KoinX is account integration failure. Also, please upload the current file of the exact financial year you want to file your taxes.
How do I troubleshoot my Mudrex integration with KoinX?
If you need any help with the Mudrex account integration with KoinX, please carefully review the steps outlined in our guide. If you are unsatisfied with the guide, contact us via Twitter or email us at support@koinx.com for further assistance.
