Introduction
The objectives of the Terms & Conditions of Use (“Terms”) are to inform you of the terms of your access to the Crypto Taxation Platform and Services (as defined), and your expectations, use, and interaction with our Crypto Taxation Platform and Services. You will also gain knowledge of:
(a) policy on changes and updates to these Terms;
(b) Crypto Taxation Platform and the Services;
(c) sign-up process and information required;
(d) conditions of use of Crypto Taxation Platform and Services;
(e) terms of use and conditions regarding the information made available by us on the Crypto Taxation Platform;
(f) intellectual property rights and ownership of the content on our Crypto Taxation Platforms and the conditions of use of such content;
(g) Know Your Client (“KYC”) requirements;
(h) policy on communications and notifications sent by Crypto Taxation Platform;
(i) disclaimers, limitation of liability and indemnification obligations in relation to the Services provided; and
(j) legal rights and obligations in case of violation of these Terms by you.
These Terms apply to and govern the use of or access to the website www.koinx.com and it’s application (hereinafter, collectively referred to as the “Crypto Taxation Platform”), by the user (hereinafter, “you”, “your”, or “User”). The Terms shall apply to the User in relation to the Services availed on the Crypto Taxation Platform.
The Crypto Taxation Platform is provided by Simplify Infotech Private Limited (hereinafter, “KoinX” or “Company” or “our” or “we” or “us”), a company incorporated under the Companies Act 2013, having its registered office at Plot No.10/D, Ward No.27 Muradkhanpatna College Square, Cuttack , Odisha - 753003.
KoinX is not an e-return Intermediary (“ERI”) as per the Electronic Furnishing of Return of Income Scheme, 2007, nor is it authorised by the Income Tax Department as a third-party software utility developer.
KoinX provides its Crypto Taxation Platform to be integrated with crypto exchanges and wallets. Based on the information provided by the Users, the integrated platform can calculate the tax in one go or see their realised and unrealised capital gains across all crypto exchanges. The integrated Crypto Taxation Platform makes it easy for Users to (i) Link transaction data from exchanges, (ii) Upload csv files on KoinX or (iii) calculate capital gains and prepare a ready-to-download tax report that Users can use to report their crypto income.
User and Company are each a “Party” and collectively the “Parties”.
These Terms are an electronic record in terms of the (Indian) Information Technology Act, 2000 and rules thereunder as applicable and as amended from time to time (“IT Act”). This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms are published in accordance with the provisions of Rule 3(1)(a) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 framed under the IT Act (as amended from time to time), that require publishing the terms of services and practices for access or usage of Crypto Taxation Platform and Services. These Terms constitute a binding and legally enforceable contract between KoinX and User (as defined below).
By registering on or using the Crypto Taxation Platform or availing the Services, you agree to be bound by the Terms. If you are using the Crypto Taxation Platform on behalf of an organisation, you are agreeing to the Terms on behalf of that organisation (in which event, “you”, “your” or “User” will refer to that organisation).
KoinX does not provide ERI services, and they are not a part of the definition of Services under Clause 2.1 of the Terms. KoinX privacy policy is available at https://www.koinx.com/privacy-crypto-tax
You represent that you are at least 18 (eighteen) years of age and have not been previously suspended or removed by KoinX, or disqualified for any other reason, from availing the Services or using the Crypto Taxation Platform. In addition, you represent and warrant that you have the right, authority, and capacity to agree to the Terms and to abide by them. You shall not impersonate any person or entity, or falsely state or otherwise misrepresent your identity, age, or affiliation with any person or entity. In the event of any violation of the Terms, KoinX reserves the right to suspend or permanently prevent you from availing of the Services or using the Crypto Taxation Platform.
If you do not agree to be bound by these terms, you must not use the Crypto Taxation Platform. By continuing to use the Crypto Taxation Platform or the Services you expressly agree and undertake to be bound by these terms. Subject to applicable laws, these Terms (and any changes thereto) will become applicable to you retrospectively on and from the date of your first use of the Crypto Taxation Platform.
1. Changes to these Terms
1.1. Please note that these Terms may change from time to time. We reserve the right to modify or amend these Terms. While we will make reasonable efforts to keep you posted on any updates to these Terms, to make sure that you are aware of any changes, we encourage you to periodically review them whenever accessing or using the Crypto Taxation Platform to be continuously aware of the changes that we may be carrying out to these Terms.
1.2. The “Last Updated” date at the top of the Terms indicates when the most recent modifications were made to the Terms. In the event we modify these Terms, by continuing to access and use the Crypto Taxation Platform, you will have confirmed your acceptance to any such modifications. Your continued use will be adequate proof that you have expressly agreed to the terms of these Terms which shall apply from the date of your first use of the Crypto Taxation Platform. In addition, when using the Crypto Taxation Platform, you will be subject to any posted guidelines, supplementary terms, policies, or disclaimers made available or issued by us from time to time, including but not limited to the Privacy Policy available at https://www.koinx.com/privacy-crypto-tax. All such supplementary terms, policies, guidelines or disclaimers are hereby incorporated by reference into these Terms.
1.3. If you have any comments or questions regarding the Terms, or wish to report any violation of the Terms, you may contact us at grievance-support@koinx.com
2. About the Crypto Taxation Platform and the Services
2.1. The Crypto Taxation Platform is primarily a technology service which, based on the information provided by the Users, allows the Users to calculate Income from various types of crypto transactions and estimate taxes (“Services”). KoinX provides its Crypto Taxation Platform to be integrated with crypto exchanges and wallets. The integrated Crypto Taxation Platform makes it easy for Users to (i) Link transaction data from exchanges or (ii) Upload csv files on KoinX or (iii) calculate capital gains and prepare a ready-to-download tax report that Users can use to report their crypto income. KoinX is only acting as a technology facilitator to Users and the role of KoinX is limited to the extent of providing the Crypto Taxation Platform.
2.1.1 Reveal Now Feature: KoinX also offers users the Reveal Now feature, which provides a summary of their income in virtual digital assets from various sources, along with an estimate of the income tax to be paid on such income. This feature is accessible upon payment of a specified fee, as outlined on the pricing page. This feature does not entitle the user to download any tax report and is also non-refundable.
2.1.2 Assumptions and Verification of Tax Computations: The Reveal Now product calculates the estimated tax payable on the user‘s income based on the following assumptions. However, it is important to note that the actual tax payable under the Income Tax Act may differ for each user. Users are responsible for verifying the computations and ensuring that they are reviewed by a Qualified Tax Professional. The assumptions used are as follows:
(a) Tax on income from virtual digital assets is computed using the highest income tax slab, which is currently 30%.
(b) Tax on income from the transfer of virtual digital assets is computed using the tax rate of 30% as specified in Section 115BBH.
(c) The estimated tax amount does not include the surcharge and the 4% health and education cess.
2.2. No Warranty: KoinX takes great care in ensuring the correctness of your tax calculations. There are strong professionals (internal and third party) who work hard to ensure the correctness of KoinX’s Crypto Taxation Platform. However, KoinX provides no guarantee or warranty on the correctness of your tax calculations. You are required to review your tax calculations either on your own or by engaging a Qualified Tax Professional to ensure correctness. You will not hold KoinX liable or responsible for any issue that arises from incorrect tax calculations or incorrect ITR filing. KoinX will not be responsible for any errors made by the Crypto Taxation Platform in any calculations.
2.3. You agree and acknowledge that we may use external consultants (each of which is a separate and independent legal entity) or subcontractors to support our Crypto Taxation Platform or the Services. In case we use such consultants, you authorise KoinX to share your information with such consultants for providing you the Services. Please refer to our privacy policy page for more details.
2.4. Your use of our Crypto Taxation Platform and Services is at your sole risk. Subject to applicable laws, KoinX disclaims all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, satisfactory quality, fitness for a particular purpose, and accuracy of the Crypto Taxation Platform and services.
2.4. Notwithstanding anything contained in this Terms, you shall defend, indemnify and hold harmless KoinX (and their affiliates, officers, directors and employees) upon demand from and against any and all damages, actions, proceedings, claims, demands, costs, losses, liabilities, diminution in value, loss of earnings, profits and revenue, opportunity costs, expenses (including court costs and reasonable attorneys’ legal fees) in connection with, arising out of, or in relation to (i) misrepresentation, negligence, fraud, willful concealment and misconduct (ii) misuse of the Services and Crypto Taxation Platform for any illegal or unauthorised purposes; (iii) any injuries to persons or damage to property, body, business character, reputation including theft, resulting from the acts or omissions performed by you; (iv) any claims by a third party on KoinX for the acts committed or omitted by the User; (v) any violation of applicable law.
2.5. By using the Crypto Taxation Platform and Services, you hereby fully and unconditionally release and completely discharge KoinX (and their affiliates, officers, directors and employees) against any claims (howsoever arising) in respect of availing of the Crypto Taxation Platform and Services.
2.6. Refund and Cancellation: Questions about refunds and cancellations should be addressed to support@koinx.com
3. Sign-Up and Consent Requirements
3.1. To avail the Services, you will have to provide us with necessary details including but not limited to your name, date of birth, gender, Permanent Account Number (“PAN”), signature, email id, phone number, business name, business address, GST number, nature of business, Tax Deduction and Collection Account Number (“TAN”), bank account details, Unified Payment Interface (“UPI”) ID, and/or other payment related details etc.
3.2. You agree to provide the above stated information, or such other information as may be necessary or required by us to provide the Services, at the time of sign-up or at any subsequent stage.
3.3. You warrant to provide true, accurate, current and complete information about yourself and you agree to not misrepresent your identity or your account information. You agree to keep your account information up to date and accurate.
3.4. If you upload information relating to any third parties, you should ensure that any such information is uploaded only after obtaining express written consent from them for using their information on the Crypto Taxation Platform. Further, you should ensure that express written consent from such persons is obtained to receive communications from KoinX regarding: information about us and the Services; promotional offers and services from us and our third party service providers, and any other matter in relation to the Services. If such third parties fail to provide written consent, or withdraw consent, you shall immediately cease to use the Services in relation to them. You will be solely responsible for obtaining such consent from third parties and we assume that such consent is sought and received by you if you provide such information relating to any of such third parties any time during the use of the Crypto Taxation Platform.
3.5. If you provide any information that is false, inaccurate, or outdated, or we have reasonable grounds to suspect that such information is false, inaccurate, or outdated, we will be entitled to suspend or terminate your account and prohibit any and all current or future use of the Crypto Taxation Platform by you. You are responsible for maintaining the confidentiality of the account and are fully responsible for all activities that occur under your account.
3.6. You agree to immediately notify us in writing at support@koinx.com of any disclosure or unauthorised use of your profile or any other breach of security with respect to your profile.
4. Use of and Access to the Crypto Taxation Platform
4.1. You agree to use the Crypto Taxation Platform only for lawful purposes, and that you are responsible, liable and accountable for all activities that take place through your use of Crypto Taxation Platform or availing the Services. We exclude any liability arising out of use of the Crypto Taxation Platform.
4.2. You understand, accept and agree that the payment facility provided by us is neither a banking nor financial service.
4.3. Service Level Terms: We will use commercially reasonable efforts to provide you the Crypto Taxation Platform. We will provide you with reasonable technical support services in accordance with our standard practices. We do not make any commitment that the Crypto Taxation Platform will be available at all times or during any down time (a) caused by outages to any public Internet backbones, networks or servers, (b) caused by any failures of your equipment, systems or local access services, (c) for previously scheduled maintenance, (d) caused by any third party vendor or service provider of KoinX, (e) caused by any failure of systems or servers of any third party including that of the government and its authorities and/or financial institutions such as asset management companies or any financial intermediaries, (f) attributable to events such as strikes, riots, insurrection, fires, floods, explosions, war, governmental action, labour conditions, earthquakes, natural disasters, hacking, phishing or interruptions in Internet services to an area where KoinX or its servers are located or co-located, or (g) required pursuant to instructions received by us from any governmental or regulatory authority.
4.4. Updates: From time to time, we may provide upgrades, patches, enhancements, or fixes for the Crypto Taxation Platform to you generally without additional charge, and such updates will become part of the Crypto Taxation Platform and subject to the Terms. Notwithstanding the foregoing, we shall have no obligation under these Terms or otherwise to provide any such updates. You understand that KoinX may cease supporting old versions or releases of the Crypto Taxation Platform at any time at its sole discretion.
4.5. The Crypto Taxation Platform may include products and services made available by third party service providers. These third party service providers may have additional terms that apply to you. You agree to be bound by such other additional terms. Third-party products and services are subject to terms and conditions and privacy policies set by their providers. We make no representations and hereby expressly exclude all warranties and liabilities arising out of or pertaining to such third-party services, including their accuracy or completeness. Further, all intellectual property rights in and to third party services are the property of the respective third parties.
4.6. By accessing or using the Crypto Taxation Platform or by availing Services, you agree not to:
4.6.1. host, display, upload, modify, publish, transmit, update, or share any information (if provided with the functionality to do so on the Crypto Taxation Platform) that:
(a) belongs to another person and to which the user does not have any right;
(b) is defamatory, obscene, pornographic, pedophilic, invasive of another’s privacy, including bodily privacy, insulting or harassing on the basis of gender, libellous, racially or ethnically objectionable, relating or encouraging money laundering or gambling, or otherwise inconsistent with or contrary to the laws of India;
(c) is harmful to minors;
(d) infringes any patent, trademark, copyright or other proprietary rights;
(e) violates any law for the time being in force;
(f) deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any information which is patently false or misleading in nature but may reasonably be perceived as a fact;
(g) impersonates another person;
(h) threatens the unity, integrity, defence, security or Sovereignty of India, friendly relations with foreign States, or public order, or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any foreign states;
(i) contains software virus or any other computer code, file or program designed to interrupt, destroy or limit the functionality of any computer resource;
(j) is patently false and untrue and is written or published in any form, with the intent to mislead or harass a person, entity, or agency for financial gain or to cause any injury to any person.
4.6.2. violate the Terms or any law for the time being in force;
4.6.3. conduct or forward surveys, contests, pyramid schemes or chain letters involving the Services;
4.6.4. impersonate any person or entity, falsely claim or otherwise misrepresent your affiliation with any person or entity, or access the accounts of others without permission, forge another person’s digital signature, misrepresent the source, identity, or content of information transmitted via the Services, perform any other similar fraudulent activity;
4.6.5. infringe our or any third party’s patent, trademark, copyright or other intellectual property rights, proprietary rights, rights of publicity or privacy;
4.6.6. use the Services if you are under the age of 18 (eighteen) years;
4.6.7. post or transmit any message (if provided with the functionality to do so on the Crypto Taxation Platform) which discloses private or personal matters concerning any person or, is grossly harmful, harassing, hateful and/or disparaging;
4.6.8. post or transmit (if provided with the functionality to do so on the Crypto Taxation Platforms) any message, data, image or program which is blasphemous, vulgar, or offensive in nature;
4.6.9. refuse to cooperate in an investigation or provide confirmation of your identity or any other information provide by you to us;
4.6.10. remove, circumvent, disable, damage or otherwise interfere with security-related features of the Crypto Taxation Platform and Services or features that enforce limitations on the use of the Services or the Crypto Taxation Platform;
4.6.11. reverse engineer, decompile, disassemble or otherwise attempt to discover the source code of as regards Services or Crypto Taxation Platform or any part thereof, except and only to the extent this is expressly permissible by applicable law;
4.6.12. use the Services or the Crypto Taxation Platform in any manner that could damage, disable, overburden, or impair it, including, without limitation,
4.6.13. using the Services or the Crypto Taxation Platform in an automated manner without prior written permission;
4.6.14. modify, adapt, translate or create derivative works based upon the Services and Crypto Taxation Platform or any part thereof, except and only to the extent that that this is permissible by applicable law;
4.6.15. intentionally interfere with or damage operation of the Services or the Crypto Taxation Platform or any other user’s enjoyment of it, by any means, including uploading or otherwise disseminating viruses, adware, spyware, worms, or other malicious code or file/ programme with contaminating or destructive features or which are designed to interrupt, destroy or limit the functionality of any computer resource;
4.6.16. use any robot, spider, other automatic device, or manual process to monitor or copy the Crypto Taxation Platform without prior written permission;
4.6.17. take any action that imposes an unreasonably or disproportionately large load on our infrastructure/network;
4.6.18. use the facilities and capabilities of the Crypto Taxation Platform to conduct any activity or solicit the performance of any illegal activity or other activity which infringes the rights of others;
4.6.19. use the Crypto Taxation Platform to collect or obtain personal information, including without limitation, financial information, about other users of the Crypto Taxation Platform, except and only as expressly provided in the Terms;
4.6.20. use the Services in a manner that results in or may result in complaints, disputes, reversals, chargebacks, fees, fines, penalties and other liability to us, a third party or you.
4.7. By accessing or using the Crypto Taxation Platform or by availing Services, you agree that:
4.7.1. The Crypto Taxation Platform shall not provide any opinion on the maintenance/audit of accounts under Sections 44AA & 44AB. Users shall be responsible for maintaining their books of accounts and getting them audited as per the provisions of Sections 44AA & 44AB, respectively.
4.7.2. The Crypto Taxation Platform may not provide any treatment of income or loss on account of the valuation of stock as per the relevant provisions of the Act/ICDS.
4.7.3. The turnover for business Income is computed on the basis of Guidance Note on Tax Audit issued by the Institute of Chartered Accountants of India (ICAI).
4.7.4. The report prepared by the Crypto Taxation Platform aims to compute the income of the person under the respective heads as specified under the Income Tax Act. It is not a computation of the tax liability.
4.7.5. Users are required to choose, after consulting with their Tax advisor, if they wish to compute the Income under the head Capital Gains or Business Income. KoinX will take all reasonable steps to ensure accurate computation of Income under each head having regard to the Tax Laws and Guidance note as issued by ICAI.
4.7.6. Calculation of profit/loss is based on the First-in-First-out (FIFO) method. Various accounting methods may be included on the KoinX platform in the future. In such a case, The calculation will be as per the accounting method as chosen by the User.
4.7.7. The calculations are limited to the information provided by the User.
4.7.8. Use of KoinX does not guarantee any non-initiation of scrutiny proceedings by the CBDT.
5. Information
5.1. While we use commercially reasonable efforts to facilitate provisions of the information, information on compliance deadlines for filing various tax returns and other statutory forms, status of your investments, etc. on the Crypto Taxation Platform, we are not responsible for any errors or omissions, or for the results obtained from the use of or reliance on this information. Specifically, certain links in Crypto Taxation Platform may connect to other websites maintained by third parties over which we have no control. If you access such links, your use of the third party websites will be governed by the policies of such websites. We encourage you to review the terms and policies of such websites.
5.2. Any information, including information on compliance deadlines for filing various tax returns and other statutory forms; relevant tax related news made available through the Crypto Taxation Platform, is for general guidance on matters of interest only. In particular, the impact of laws and regulations can vary widely based on the specific facts involved. Given the changing nature of laws, rules, and regulations, and the inherent hazards of electronic communication, there may be delays, omissions, or inaccuracies in such information. Accordingly, the information provided through or in relation to this Crypto Taxation Platform is done with the understanding that we are not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional advisor. You acknowledge that the provision of the Crypto Taxation Platform or Services does not constitute the provision of any specific advice nor any other professional services or advice of any kind (including any tax services). Any use of the Crypto Taxation Platform or Services (including reliance on any of the contents therein) is at your sole risk.
5.3. While we use reasonable efforts to facilitate the information made available through the Crypto Taxation Platform is obtained from reliable sources, we are not responsible for any errors or omissions, or for the results obtained from the use of or reliance on this information.
5.4. We do not make any representations as to the accuracy or any other aspect of information contained in other websites. All information made available through the Crypto Taxation Platform is provided "AS IS", with no guarantee, representation, or commitment of completeness, accuracy, timeliness or of the results obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability and fitness for a particular purpose.
6. Intellectual Property Rights and Ownership
6.1. We own the rights in the design, compilation, and look and feel of our Crypto Taxation Platform. It also includes rights in all copyrighted works, trademarks, designs, inventions, and other intellectual property. Subject to compliance with these Terms, we grant you a non-exclusive, non-transferable, non-sub licensable, royalty-free, revocable, and limited access to use the Crypto Taxation Platform and the Services in accordance with these Terms.
6.2. You agree not to copy, distribute, modify or make derivative works of any of our content or use any of our intellectual property rights in any way not expressly permitted by us.
6.3. We may provide you with a summary of the news or information that is already available in the public domain. Further we may provide you an electronic link to the original source of such news or information. Upon clicking the electronic link, you may be directed to the website of a third party who has published that news or information. We do not own any intellectual property rights in the information published by such third parties.
6.4. Use of data: Notwithstanding anything to the contrary contained herein, in order to avail Services, when you enter or upload your data onto the Crypto Taxation Platform, you expressly agree, covenant, consent and grant us and our third party service providers all rights, licences and consents to host, use, copy, transmit, process, store, share, analyse, display, make derivations, and back up all data you submit to us through our services and as required by us including but not limited to personal data and any other data relating to financial information of yourself and others to: (a) enable you to use the Crypto Taxation Platform and avail the Services; (b) allow us to improve, develop and protect our Services; (c) create, or provide new services through KoinX; (d) communicate with you about our Crypto Taxation Platform and the Services; and (e) send you information we think may be of interest to you in relation to Crypto Taxation services. The terms of use and sharing of such data are set out in our Privacy Policy https://www.koinx.com/privacy-crypto-tax.
6.5. Data loss: Data loss is an unavoidable risk when using any technology. You are responsible for maintaining copies of your data entered into the Crypto Taxation Platform or for availing the Services.
6.6. No compensation: Whatever the cause of any downtime, access issues, or data loss, your only recourse is to discontinue using the Crypto Taxation Platform or the Services.
7. Know your Customer/ Client Requirements
You agree and provide your express consent to provide and share certain information and documents that may be necessary to ascertain your eligibility to use the Crypto Taxation Platform or avail the Services including but not limited to your KYC Documents to us. For the purpose of these Terms, ‘KYC Documents’ shall mean to include mobile number, email address, date of birth, gender, PAN, signature, etc. and other information which may be sought either during sign-up or at any stage later. You agree and warrant to provide valid, true, complete, and up-to-date KYC Documents. You acknowledge and agree that any incorrect or misleading information provided shall constitute a material breach of these Terms.
8. Communication Policy
8.1. You agree to receive communications from KoinX regarding: (i) information relating to use of the Crypto Taxation Platform or Services; (ii) information about KoinX and the Services; (iii) promotional offers and services from KoinX and third party service provider, and (iv) any other matter in relation to the Services. In case you access the Crypto Taxation Platform on behalf of a third party (after obtaining their prior consent), you acknowledge and agree that we are permitted to send any or all of the above communications to your customers or other third parties whose information you have made available on the Crypto Taxation Platform.
8.2. We may send alerts to the mobile phone numbers provided by you, either of yourself or your customers or any third parties, via e-mail, SMS, WhatsApp messages or push notifications or any other means. If your mobile number is registered in the Do Not Disturb (“DND”) list of Telecom Regulatory Authority of India, you may not receive SMS from us. In such case, you will be responsible for taking all steps to deregister from the DND list and will not hold us liable for non-receipt of SMS.
8.3. We shall not be under any obligation to confirm the authenticity of the person(s) receiving the alert. You cannot hold KoinX liable for non-availability of the SMS/email alert/push notifications service in any manner whatsoever.
8.4. The SMS/e-mail alert/push notification service provided by us is an additional facility provided for your convenience and that it may be susceptible to error, omission and/or inaccuracy. You shall not hold KoinX liable for any loss, damages, claim, expense including legal cost that may be incurred/suffered by you on account of the SMS/e-mail alert/push notification facility.
8.5. The clarity, readability, accuracy and promptness of providing the SMS/e-mail alert/push notification service depend on many factors including the infrastructure and connectivity of the network service provider. We shall not be responsible for any non-delivery, delayed delivery or distortion of the alert in any way whatsoever.
8.6. You understand that KoinX cannot and does not guarantee or warrant that files available for download through the Crypto Taxation Platform will be free of viruses, worms or other code that may be damaging. You are responsible for implementing procedures to satisfy your particular requirements of internet security and for accuracy of data input and output.
9. Termination of Access to the Crypto Taxation Platform
We may terminate or suspend your access to the Crypto Taxation Platform or access to all or any of its data: (i) at our discretion; (ii) if you fail to comply with these Terms or the Privacy Policy; (iii) in case of inactivity for long periods; or (iv) in case of any fraud, insolvency, or bankruptcy in relation to you. You agree that our right to terminate does not depend on whether you breach these Terms or not.
10. Warranties and Disclaimers
10.1. We are a technology platform service provider. We are not and will not be responsible for any claim or for any damages suffered, whether by you, the third parties of the Users whose information is recorded on the Crypto Taxation Platform, or any other person or party, that are related, directly or indirectly, to or arise out of the same including any payments made by you or by any third parties of the User using the payment link generated using the Crypto Taxation Platform.
10.2. YOUR USE OF THE PLATFORM AND THE SERVICES IS AT YOUR SOLE RISK. THE PLATFORM, THE SERVICES ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. EXCEPT AS OTHERWISE EXPRESSLY PROVIDED IN THESE TERMS, THE COMPANY, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES, AGENTS AND OTHER REPRESENTATIVES, EXPRESSLY DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING, BUT NOT LIMITED TO THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT. WITHOUT LIMITING THE GENERALITY OF THE FOREGOING, THE COMPANY MAKES NO WARRANTY THAT: (I) THE PLATFORM OR THE SERVICES WILL MEET YOUR REQUIREMENTS; (II) THE PLATFORM OR THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE; (III) INFORMATION THAT MAY BE OBTAINED VIA THE PLATFORM OR THE SERVICES WILL BE ACCURATE OR RELIABLE; (IV) THE QUALITY OF ANY AND ALL PRODUCTS, SERVICES, INFORMATION OR OTHER MATERIAL, INCLUDING ALL MERCHANDISE, GOODS AND SERVICES, OBTAINED OR PURCHASED BY YOU DIRECTLY OR INDIRECTLY THROUGH THE PLATFORM OR THE WEBSITES WILL MEET YOUR EXPECTATIONS OR NEEDS; AND (V) ANY ERRORS IN THE PLATFORM OR THE WEBSITES WILL BE CORRECTED.
10.3. You acknowledge and agree that certain Services provided on the Crypto Taxation Platform may further be dependent on the functioning of the technology infrastructure of various third parties including that of the government agencies and, or statutory authorities. You agree that KoinX shall not be liable or responsible for any discrepancy in the Services owing to delay or failure of any activity by any such third parties.
11. Exclusion of Damages
WE SHALL NOT UNDER ANY CIRCUMSTANCES BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING OUT OF, IN CONNECTION WITH OR RELATING TO THE USE OF OR INABILITY TO USE THE PLATFORM, INCLUDING ANY LIABILITY: (I) AS A PUBLISHER OF INFORMATION; (II) FOR ANY INCORRECT OR INACCURATE INFORMATION OR ANY ‘BUG’ OF THE PLATFORM OR THE SERVICES; (III) FOR ANY UNAUTHORISED ACCESS TO OR DISCLOSURE OF YOUR TRANSMISSIONS OR DATA; (IV) FOR STATEMENTS OR CONDUCT OF ANY THIRD PARTY ON OR VIA THE PLATFORM; (V) FOR ANY DISPUTES BETWEEN USERS OF THE PLATFORM OR THE SERVICES, OR BETWEEN A USER OF THE PLATFORM OR THE SERVICES AND A THIRD PARTY; OR (VI) FOR ANY OTHER MATTER RELATING TO THE PLATFORM OR THE SERVICES, OR ANY THIRD PARTY. THIS IS A COMPREHENSIVE LIMITATION OF LIABILITY THAT APPLIES TO ALL DAMAGES OF ANY KIND, INCLUDING ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, WHETHER BASED ON BREACH OF CONTRACT, BREACH OF WARRANTY, TORT (INCLUDING NEGLIGENCE), PRODUCT LIABILITY, OR OTHERWISE, EVEN IF AN INDIVIDUAL ADVISES US OF THE POSSIBILITY OF SUCH DAMAGES. THE LIMITATIONS OF LIABILITY SET FORTH HEREIN ARE FUNDAMENTAL ELEMENTS OF THE BASIS OF THE BARGAIN BETWEEN THE COMPANY AND YOU. THE PRODUCTS, INFORMATION AND SERVICES OFFERED ON AND THROUGH THE PLATFORM OR THE SERVICES WOULD NOT BE PROVIDED TO YOU WITHOUT SUCH LIMITATIONS.
12. Indemnification
12.1. Notwithstanding anything contained in this Agreement, you agree to defend, indemnify and hold harmless KoinX (and its affiliates, officers, directors and employees) upon demand from and against any and all damages, actions, proceedings, claims, demands, costs, losses, liabilities, diminution in value, loss of earnings, profits and revenue, opportunity costs, expenses (including court costs and reasonable attorneys’ legal fees) in connection with, arising out of, or in relation (i) misrepresentation, negligence, fraud, willful concealment and misconduct (ii) misuse of the Services and Crypto Taxation Platform for any illegal or unauthorised purposes; (iii) any injuries to persons or damage to property, body, business character, reputation including theft, resulting from your acts or omissions; (iv) any claims by a third party on Company for the acts committed or omitted by you; and (v) any violation of applicable law..
12.2. You agree that any violation by you will constitute an unlawful and unfair business practice, and will cause irreparable harm to KoinX and third party service providers, as the case may be, for which monetary damages would be inadequate, and you consent to KoinX obtaining any injunctive or equitable relief that they deem necessary or appropriate in such circumstances. These remedies are in addition to any other remedies that KoinX may have at law or in equity. If KoinX takes any legal action against you as a result of your violation of these Terms, they will be entitled to recover from you, and you agree to pay all reasonable attorneys’ fees and costs of such action, in addition to any other relief that may be granted.
13. Miscellaneous
13.1. Notice: All notices, requests, demands, approvals, requests for approvals, or other communications under the Terms shall be in writing. Notice will be sufficiently given for all purposes as follows: (i) upon delivery when personally delivered to the recipient, (ii) upon receipt when mailed by certified mail (iii) upon delivery when delivered by recognized international overnight courier, and (iv) upon receipt when sent by fax with confirmation.
13.2. Merger/Modification: Each Party acknowledges that it has read the Terms, understands it, and agrees to be bound by its terms, and further agrees that this is the complete and exclusive statement of the Terms between the Parties, which supersedes and merges all prior proposals, understandings, and all other agreements, oral and written, between the Parties relating to the Terms.
13.3. Governing Law and Jurisdiction: These Terms shall be governed by and construed, and enforced in accordance with the laws of India. Any controversies, conflicts, disputes, or differences arising out of these Terms shall be resolved by arbitration in Bhubaneswar, Odisha, in accordance with the Arbitration and Conciliation Act, 1996, for the time being in force, which is deemed to be incorporated by reference in this Clause. The tribunal shall consist of a sole arbitrator appointed mutually. The language of the arbitration shall be English. The parties to the arbitration shall keep the arbitration confidential and not disclose it to any person, other than on a need to basis or to legal advisors, unless required to do so by law. The decision of the arbitrator shall be final and binding on all the Parties hereto. Subject to other provisions in this Clause, courts in Bhubaneswar, Odisha shall have exclusive jurisdiction over all issues arising out of these Terms or the use of the Services.
13.4. Severability: If any provision of the Terms is invalid under any applicable statute or rule of law, it is to that extent to be deemed omitted, and all other terms and provisions of the Terms shall nevertheless remain in full force and effect so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any Party. Upon such determination that any term or other provision is invalid, illegal, or incapable of being enforced, the Parties shall negotiate in good faith to modify the Terms so as to effectuate the original intent of the Parties as closely as possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated to the greatest extent possible.
13.5. Waiver: A waiver by either Party of any terms or conditions of the Terms in any instance shall not be deemed or construed to be a waiver of such term or condition for the future, or of any subsequent breach thereof. All remedies, rights, undertakings, obligations, and agreements contained in the Terms shall be cumulative, and none of them shall be in limitation of any other remedy, right, undertaking, obligation, or agreement of either Party.
13.6. Relationship of Parties: The Parties are not employees, agents, partners, or joint venturers of each other. You shall not have the right to enter into any agreement on behalf of KoinX.
13.7. Entire Terms: The entire understanding between the Parties hereto relating to the subject matter hereof is contained herein, and the Parties make no warranties, representations, or undertakings hereto except as expressly provided herein.
13.8. Assignment: Notwithstanding anything contained herein, you agree and covenant that KoinX may, at its sole discretion, be entitled to assign its rights and obligations under these Terms to any of its affiliates or to any entity, and in such a case, such affiliate or entity shall be entitled to enforce these Terms.
13.9. Survival: Notwithstanding any termination, cancellation, or expiration of the Terms, the provisions hereof that are intended to continue and survive, shall continue and survive.
13.10. Expenses: Except as otherwise specified in the Terms, all costs and expenses, including fees and disbursements of counsel, financial advisors, and accountants, incurred in connection with the Terms and the transactions contemplated in the Terms shall be paid by the Party incurring such costs and expenses.
13.11. Force Majeure: Neither Party shall be liable for a failure or delay in performing any of its obligations under the Terms if, but only to the extent that, such failure or delay is due to causes beyond the reasonable control of the affected party, including, but not limited to (1) acts of God; (2) fire or explosion (except to the extent caused by the negligence or willful misconduct of the affected party); (3) unusually severe weather; (4) war, invasion, riot, or other civil unrest; (5) governmental laws, orders, restrictions, actions, embargoes, or blockages; (6) national or regional emergency; and (7) injunctions, strikes, lockouts, labour trouble, or other industrial disturbances; provided that the party affected shall promptly notify the other of the force majeure condition and shall exert reasonable efforts to eliminate, cure, or overcome any such causes and to resume performance of its obligations as soon as practicable.
13.12. Maintenance of Records: You shall maintain the records independently of the Crypto Taxation Platform (by way of physical copies, et cetera), and KoinX reserves the right to seek copies of such records for their own use, including record keeping. You acknowledge and agree that the Company shall have the right to retain your information for as long as it deems fit and to be in compliance with applicable provisions of the law.
14.13. Fees: KoinX shall charge fees for the Services and non-payment may result in the denial of Services. KoinX will from time to time introduce various paid plans ("Plans") for its services and will charge You at such rates as will be notified by KoinX at https://www.koinx.com/pricing/crypto-tax. For any changes to the prices and other offers, You are required to refer to https://www.koinx.com which will be updated from time to time
14.14. Contact Us: If there are any questions, grievances, or complaints regarding these Terms, you may contact us at the address given below:
Grievance Officer
Name: Paras Tiwari
Address: 503, Esplanade Business Center, Rasulgarh, Bhubaneswar, Odisha - 751010
Email: grievance-officer@koinx.com
