Punit Agarwal

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

@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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There’s some confusion around today’s Budget announcement on crypto non-furnishing. So let’s break it down in simple terms.

@100xattorney @CryptooIndia Your take = 💯

@a__punit @CryptooIndia Enforcement = 10 Builder incentive = 0

@OrbitX_Pay Interesting! Congratulations team.

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@Zisa811084 @getkoinx @smtgpt @CryptooIndia @simplykashif @pushpendrakum @wiseadvicesumit @Cryptowithkhan @SujalJethwani Holding me no tax. Remember: - Sell is not INR sell. - Crypto to crypto trade is also treated as "Sale"

@a__punit @getkoinx @smtgpt @CryptooIndia @simplykashif @pushpendrakum @wiseadvicesumit @Cryptowithkhan @SujalJethwani O to sahi h .. jo banda 2022 me 1lkahs like one coin me invest kia sell nahi kia but right 1lakh ho gaya 10000 to kia tax jama karega hold krega kia itr file karega ??? Profit hoga tab na file kar k show kare GA.. koi banda hold kar raha long nahi sell kia. Kia show karega?

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

@Zisa811084 @getkoinx @smtgpt @CryptooIndia @simplykashif @pushpendrakum @wiseadvicesumit @Cryptowithkhan @SujalJethwani Yes. Profit wale transactions jo bhi honge uska 30%. Example - 1L ka crypto bought and sold at 1.20L Reinvested 1.2L and portfolio down ho gaya. And phr aapne loss me sell kiya at 10k. Jo 20k ka profit hua tha pehle, uspe tax lagega. At 30%. Tax amount ~ 6000/-

@a__punit @getkoinx @smtgpt @CryptooIndia @simplykashif @pushpendrakum @wiseadvicesumit @Cryptowithkhan @SujalJethwani Kisika 1lakhs Investment 10000 hogaya to kia tax pay kare GA

Crypto held in a self-custody hardware wallet is generally not reported as a foreign asset because Schedule FA is custodian and location-based, not device-based. With no foreign bank, exchange, or intermediary controlling the asset, there’s no “foreign financial account” to disclose. Rules are still evolving and facts matter to come to conclusion. Taking CA advice is recommended.

@simplykashif . @a__punit are users required to report hardware wallet holdings every year like in Schedule FA for foreign stocks?

Very important announcement

9/ If you’re a crypto investor who’s already reporting honestly, this change is actually positive. Better data = fewer surprises later.

8/ In short: Last year: User disclosure was clarified This year: Platform reporting is being tightened Two different problems. Two different solutions.