Punit Agarwal

Budget 2026 & crypto taxes: what just happened, and what it means for you 🧵

@CoinDCX Yes, think of 0 tax liability! A lot of users don’t realise they might have 0 tax liability and might as well be eligible for a TDS Refund! Check your crypto tax liability on KoinX today!

@smtgpt @RahulDLM 😂

Don’t have a single Rahul on my CoinDCX cap table. 🙁 Officially doomed. Actively looking to onboard VCs named Rahul for my next round. 😂

@Vimalpa68558382 @getkoinx Correct. Loss offset karne ke baad bhi loss me ho, ye aapko pata hai. Government ko kaise pata chalega? Unhe toh bas sale turnover dikhegi. So file nahi karoge toh unhe pata nai hoga. If such notices come, you’ll have to justify complete setup to them with proper data.

@getkoinx @a__punit FY 21-22 me loss set off nahi kar sakte vaisa koi rule nahi tha, right ? In that case ham loss set off kar sakte he . If loss set off karne ke bad hum loss me he to return kyu file karna he crypto ka.?

A lot of crypto investors are receiving IT notices for FY 2021-22. Our CEO @a__punit explains exactly what's happening and what to do👇

@icr_indiacrypto Yes, thanks. It was added after we highlighted it. Should have been added right when it was posted. But nonetheless, thanks.

@a__punit @a__punit We consistently ensure that sources are cited in our work, and the same has been followed in this case as well.

🚨The Income Tax Department is sending tax notices to crypto traders for FY 2021-22. These are Section 148A notices and can reopen your past returns. What’s happening - Systems are flagging estimated income due to mismatches in reported data, not actual profit. In many cases, trading activity is being reviewed to match records with ITR filings. Why does this happen? 🔹Multiple exchanges 🔹Wallet transfers 🔹Mismatch with ITR ⚠️This is not a tax bill yet, but a wrong response can turn it into one What you need: 🔹Complete transaction history 🔹Correct profit calculation 🔹Proper tax report At India Crypto Research, our Crypto Tax Calculator helps you do exactly this. Track trades, calculate real profit, generate a full tax report, and file ITR correctly. Don’t wait till it’s too late. Link in comments👇

148A notices are now being issued to crypto investors in India. Many relate to FY 2021–22 transactions. If you traded back then, this thread could save you from a serious tax problem 🧵

@CryptoTaxSucks @therealchaseeb 😂😂

@therealchaseeb It will handle it by saying “Brilliant trading, Chase! I’ve calculated that you had a $7B loss with a tax payable of $10T.”

Sure buddy. Would love to see how you handle a Solana degen trader’s 350,000 paper hand txs

@IshitaaPandey @_kidrah_24 @Cypher_HQ_ Every time you spend using crypto, it's treated as a "sale". Capital Gain @ 30% will be applicable on profits.

@_kidrah_24 @Cypher_HQ_ @a__punit can explain i think 💪

got my hands on the metal @Cypher_HQ_ card. really solid packaging. one of my favourite crypto cards because: - accepted at 95%+ places in india - worked across 5+ countries for me - decent exchange rates and rewards - can load with 500+ tokens across 15+ blockchains

@rizz1901 Pity

@a__punit Indian judiciary at its best, unfortunately.

It’s so scary that even when a user interacted on an impersonating website and was exposed to fraud, the founders of main brand were arrested and put behind bars for 3 days. Investigating officer should have investigated further before acting. It’s not right for anyone to be put behind bars just like that. It creates mental pressure, family gets concerned, lot of FUD is spread. This is unprecedented. It doesn’t create safe environment for fellow founders who are working day in and day out to create a brand and contribute to India’s growth. This is unacceptable. Someone has to be accountable. This is very disturbing.

@JaegerBuster True. And at that point people are like why are you not building from India. They don’t know BTS. They don’t know what was faced.

@a__punit No wonder companies shift their bases to other countries

Thousands of crypto traders. One room. One hard truth. Our CEO @a__punit took the stage at #TokenIQ by @DeltaExchangeIn x @joinfingrad: "You think you know crypto tax. You don't." Crypto in India is evolving fast. Your tax game needs to keep up. @getkoinx is on it.

@AkasaAir flights have leg space less than that of a regular small auto rickshaw in India.

Most Indian crypto traders ignore this tax rule. (and it can quietly add penalties😰) If your total tax liability exceeds ₹10,000, the Income Tax Act requires you to pay Advance Tax during the financial year itself. Note: Advance Tax is paid, not filed, against your PAN. Advance Tax payment schedule: 1. 15 June — 15% of total tax 2. 15 September — 45% cumulatively 3. 15 December — 75% cumulatively 4. 15 March — 100% of total tax Since the financial year is ending, the next due date is 15 March. To calculate advance tax, include all income sources: 1. Crypto gains (30%) 2. Salary income 3. FD interest 4. Stock market profits 5. Foreign income Then subtract TDS already deducted. If the remaining tax exceeds ₹10,000 → Advance Tax applies. Know your crypto advance tax in seconds with KoinX!

Props to @StaniKulechov for transparency and returning $600K in fees. But $50M USDT → 324 AAVE is a brutal reminder: permissionless doesn’t mean consequence-free. UX guardrails, tax implications, compliance there’s a lot to be improved. DeFi is still asking users to be their own bank without giving them the tools to act like one.

Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface. Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox. The user confirmed the warning on their mobile device and proceeded with the swap, accepting the high slippage, which ultimately resulted in receiving only 324 AAVE in return. The transaction could not be moved forward without the user explicitly accepting the risk through the confirmation checkbox. The CoW Swap routers functioned as intended, and the integration followed standard industry practices. However, while the user was able to proceed with the swap, the final outcome was clearly far from optimal. Events like this do occur in DeFi, but the scale of this transaction was significantly larger than what is typically seen in the space. We sympathize with the user and will try to make a contact with the user and we will return $600K in fees collected from the transaction. The key takeaway is that while DeFi should remain open and permissionless, allowing users to perform transactions freely, there are additional guardrails the industry can build to better protect users. Our team will be investigating ways to improve these safeguards going forward.

One of the biggest conversations around crypto in India is happening at TOKENIQ by @joinfingrad. And @a__punit will be on stage talking about the Crypto Tax Landscape in India. 📍 Prestige Centre for Performing Arts 📅 14th March ⏰ 3:00 PM If you're attending TOKENIQ, make sure you're there! The KoinX team will also be around on 14th & 15th, come meet us with questions!

Another country just moved closer to formal crypto taxation. This time it’s Turkey. The proposed framework brings in: 1. 10% withholding tax on crypto gains (collected quarterly) and it applies to individuals, companies, residents, and non-residents 2. 0.03% tax on transaction service providers 3. Users on unlicensed platforms must report their gains 4. This also gives the president the power to adjust the tax rate between 0–20%. If passed, the rules will take effect two months after publication. What do you think about this proposed framework? Let us know in the comments and follow us for more such insights 🙂

The Dutch government plans to amend its controversial proposal to tax unrealised crypto gains at 36%. Under the original law, investors could have owed tax on portfolio value increases, even without selling their assets. The Finance Minister admitted: “something simply went wrong” The proposal is now expected to be revised before moving forward👇 dlnews.com/articles/regul…

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