Mudrex partners with ClearTax to simplify crypto tax filing

Mudrex, the crypto investment platform backed by Y-Combinator, announced its partnership with ClearTax on May 13th, aiming to streamline crypto tax filing for its users in India.

"This collaboration marks a significant step forward in enhancing the user experience by providing a robust compliance infrastructure to accurately report taxes. By integrating ClearTax into its platform, Mudrex aims to alleviate the complexities associated with tax reporting, ultimately saving users valuable time and effort, especially during tax seasons," Mudrex stated in a release.

Through this partnership, investors and traders using Mudrex will gain access to ClearTax's comprehensive suite of tax reporting tools. One of the primary benefits of this collaboration is the seamless integration between Mudrex and ClearTax, allowing users to effortlessly manage their tax obligations without disrupting their investment activities.

With just a simple click, users can generate detailed tax reports, leverage automated tax calculation services, and gain valuable portfolio insights, all within an intuitive and user-friendly interface, for a nominal fee. Furthermore, users can conveniently download VDA-compliant tax reports essential for filing their Income Tax Returns (ITR), as highlighted by Mudrex.

Commenting on the development, Edul Patel, CEO & Co-founder of Mudrex, said, "This partnership will provide a seamless and compliant investment experience, empowering users to navigate the complexities of crypto taxation with confidence and ease."

Avinash Polepally, Senior Director (Consumer Business Head) at ClearTax, said, “With this collaboration, Mudrex’s users are well-positioned to leverage this opportunity as a pivotal moment in their financial journey and further equip themselves with the tools and resources they need to achieve their financial and compliance goals efficiently.”

"Additionally, the partnership will ensure that Mudrex users remain informed about the latest tax developments and requirements within the VDA industry through various awareness and educational initiatives," added Mudrex in a release.

Headquartered in Bengaluru and San Francisco, Mudrex is backed by Y- Y-Combinator, Nexus Ventures, Arkham Ventures, and Tribe Capital. Founded by Edul Patel, Alankar Saxena, Rohit Goyal, Prince Arora, the Y-Combinator-backed enterprise has established a robust investing platform that can be used by both newcomers and seasoned investors. The US-headquartered and Bengaluru-based fintech startup aims to be the largest asset management platform for crypto.

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