- Indian crypto exchange WazirX has launched a free crypto tax reporting platform, Taxlyst.
- Taxlyst helps users calculate gains and losses from crypto transactions automatically.
- While there are rumors that the ITR deadline has been extended, there is no confirmation.
Although the date to submit India’s Income Tax Return (ITR) filing is drawing closer, many crypto investors haven’t completed the procedure due to its complexity. Tracking transactions manually, calculating gains and losses, and preparing tax reports make the process challenging. Amid these concerns, WazirX, one of India’s largest crypto exchanges, has launched Taxlyst, a free crypto tax reporting platform.
WazirX’s Taxlyst to Automate Crypto Tax Reports
As crypto tax reporting remains challenging in India, WazirX has unveiled Taxlyst. The platform allows users to upload their transaction history from any crypto exchange. This makes it useful for investors on any platform. After the data is uploaded, Taxlyst analyzes the transactions and creates a detailed tax report within minutes.
It is interesting that WazirX’s crypto tax reporting platform can automatically calculate gains and losses from all digital asset transactions. Taxlyst can also estimate the user’s tax liability and prepare exchange-wise transfer summaries. In addition, it can create reports that are compatible with Schedule VDA, the ITR’s section that deals with digital asset income tax. WaxirX founder Nischal Shetty stated,
“Many investors still spend hours manually reconciling trades across different exchanges, and even small calculation mistakes can create unnecessary stress during tax filing. We built Taxlyst to simplify this entire process. Whether someone trades on WazirX or elsewhere, they should be able to upload their transaction history and receive a structured, tax-ready report within minutes.”
Is the ITR Filing Deadline Extended?
Although there are rumors that the ITR filing deadline has been extended, as of now, there is no official confirmation about it. This indicates that, according to the Central Board of Direct Taxes’ (CBDT) available announcement, the last date to submit the ITR is July 31, 2026. Thus, WazirX urges its users to complete their procedures soon and avoid relying on speculation about a last-minute extension.
Last year, the government extended ITR deadlines citing several reasons, including delayed ITR utilities and technical issues with the e-filing portal. However, according to tax experts, there are fewer chances this year for such an extension.
At the same time, taxpayers with business or professional income get more time for the ITR filing. Taxpayers who are not required to get their accounts audited generally have a deadline of October 1. Audit cases have an even later due date as per the Income Tax Act. Taxpayers who miss the deadline can also file a belated return by December 31.
Related: India Crypto Tax: Experts Warn Missing Records Could Trigger Tax Notices
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