top of page

File Your ITR now

FILING ITR Image.png

TaxBuddy vs KoinX: Comparison for ITR Filing FY 2024-2025

Writer: Indrajeet SharmaIndrajeet Sharma
3 days ago7 min read

Choosing the right platform to file your taxes can make a big difference in how smooth and efficient the process is. With so many options available today, it’s important to select a platform that meets your specific needs. Whether you are a salaried employee, a business owner, or someone involved in the growing world of cryptocurrency, the right platform can help you handle the complexities of tax filing with ease.


Let us compare two tax filing platforms that cater to different user groups, TaxBuddy and KoinX. TaxBuddy is a general tax filing platform designed to help individuals and businesses with their income tax filing, investment management, and compliance. On the other hand, KoinX is a platform focused specifically on crypto tax filing, offering specialized tools for crypto investors, traders, and businesses. We’ll take a look at their key features, strengths, and limitations to help you determine which platform is the best fit for your needs.

 

Table of content

 

Overview of TaxBuddy and KoinX

TaxBuddy Overview

TaxBuddy is a comprehensive platform that helps individuals and businesses with income tax filing, investment management, and compliance. It offers features like automated pre-filling using PAN and Aadhaar data, making tax filing quicker and more accurate. TaxBuddy is suitable for salaried employees, business owners, and professionals who want a simple, reliable solution for tax and investment needs.


Founded with the goal of simplifying tax filing, TaxBuddy has 8+ years of experience helping users manage their taxes and investments efficiently. Whether you’re looking to file your return or seeking advice on managing your investments, TaxBuddy offers a versatile solution.


KoinX Overview

KoinX is a platform focused exclusively on crypto tax filing. It’s ideal for crypto investors, traders, and businesses involved in Web3 transactions. KoinX helps users manage their crypto taxes, including staking, NFTs, and trading, ensuring compliance with India’s tax laws on crypto profits (30% tax) and TDS (1%).

Founded in 2022, KoinX aims to simplify crypto taxation in India. It provides tailored solutions for crypto users, offering automated calculations and detailed tax reports, making it easy to comply with the country’s crypto tax regulations.


Key Features Comparison

TaxBuddy Features

  1. Income Tax Filing:

    • TaxBuddy provides both DIY filing and expert-assisted filing options, giving users the flexibility to choose how they want to file their taxes. For salaried individuals, the platform also offers automated pre-filled inputs using PAN and Aadhaar details, making the filing process quicker and more accurate.


  2. Investment Management:

    • TaxBuddy helps users manage their investments through tools like Portfolio Doctor, which analyzes mutual funds and provides insights. It also offers Wealth Builder for personalized investment advice, helping users make informed investment decisions.


  3. GST Services:

    • For businesses, TaxBuddy offers comprehensive GST services, including GST registration, filing, and compliance. This ensures that businesses remain compliant with tax regulations and avoid penalties.


  4. Other Business Services:

    • TaxBuddy goes beyond income tax filing by offering services like TDS/TCS filings, ROC filings, and accounting services for small and medium businesses. These services help businesses stay organized and compliant with various tax requirements.


  5. Post-Filing Support:

    • One of the standout features of TaxBuddy is its 24/7 expert assistance. If you have any queries or face issues with your tax filing, the platform offers continuous support. In case you receive a tax notice, TaxBuddy also helps with resolving tax notices, ensuring a smooth post-filing experience.


KoinX Features

  1. Crypto Tax Filing:

    • KoinX specializes in crypto tax filing by automating the tax calculations for various crypto transactions like trading, NFTs, and staking. This helps crypto investors comply with India's tax laws, including the 30% tax on crypto profits and 1% TDS on crypto transactions.


  2. Professional Tools:

    • KoinX provides tax professionals with tools for tax practice management. This includes features for billing, e-filing, and document tracking, making it easier for accountants and financial professionals to manage their clients’ crypto tax needs.


  3. Partnerships and Integrations:

    • KoinX has partnered with other platforms to simplify the crypto tax filing process and integrate with exchanges such as Bitget for automated syncing of crypto transactions. These integrations help make the tax filing process much smoother for users.


  4. User Dashboard:

    • KoinX offers a unified dashboard where users can consolidate all their crypto portfolios and transactions. This makes it easier to track and report crypto holdings, helping users stay on top of their tax obligations.


  5. Focus on Web3:

    • Unlike traditional tax platforms, KoinX is tailored specifically for the complexities of the Web3 ecosystem. It handles unique crypto tax scenarios like DeFi income and anonymous wallets, making it the go-to platform for crypto investors who deal with these advanced blockchain transactions.


Strengths of TaxBuddy and KoinX

TaxBuddy Strengths:

  1. Comprehensive Services Beyond Tax Filing:

    • TaxBuddy offers much more than just tax filing. It provides investment management services, such as portfolio analysis and personalized investment advice, helping users manage their finances better. Additionally, it supports business compliance by offering GST filing, TDS/TCS services, and ROC filings.


  2. 24/7 Customer Support and User-Friendly Interface:

    • TaxBuddy stands out for its round-the-clock support, ensuring that users can get help anytime, whether it’s for filing taxes or resolving any issues. The platform also has an intuitive and simple interface, making it easy for both beginners and experienced users to navigate.


  3. Wide Target Audience:

    • TaxBuddy is designed to cater to a broad range of users. Whether you’re a salaried individual, a business owner, or a professional, TaxBuddy offers services tailored to different tax needs, ensuring a hassle-free experience for everyone.


KoinX Strengths:

  1. Specialized in Crypto Tax Compliance and Web3 Transactions:

    • KoinX focuses on the growing need for crypto tax filing. It simplifies the process of managing taxes on Web3 transactions, making it ideal for crypto investors and traders who need specialized support for their digital assets.


  2. Automated Crypto Tax Calculations:

    • KoinX automates the tax calculation process for a variety of crypto assets such as trading, staking, and NFT transactions. It integrates with multiple crypto exchanges, making it easy for users to generate accurate tax reports directly from their portfolios.


  3. Tailored Tools for Accountants and Crypto Professionals:

    • KoinX also provides specialized tools for accountants and crypto professionals. These tools help manage tax practices, track client documents, and facilitate remote collaboration, ensuring tax professionals can easily manage complex crypto tax scenarios.


Limitations of TaxBuddy and KoinX

TaxBuddy Limitations:

  • No Specialized Features for Crypto Investors or Web3 Transactions:

    • While TaxBuddy offers a great platform for general income tax filing and business compliance, it doesn’t have features specifically designed for crypto investors or Web3 transactions. If you're looking for help with crypto-related taxes, TaxBuddy may not be the best choice.


KoinX Limitations:

  • Exclusively Focused on Crypto Tax and Web3:

    • KoinX specializes in crypto tax filing and Web3 transactions, which means it’s not suitable for general income tax filing or other non-crypto business services. If you need a comprehensive tax platform for your regular income or business needs, KoinX won’t be a good fit.


Which Platform Should You Choose?

Choose TaxBuddy if you need a versatile tax filing platform that handles general tax filing, investment management, and business compliance. It’s ideal for salaried employees, business owners, and professionals who want a simple and comprehensive tax solution.

Choose KoinX if you’re a crypto investor, trader, or professional involved in Web3 transactions. KoinX specializes in crypto tax filing, helping you manage the complexities of DeFi income, staking, NFTs, and trading.


Conclusion

Both TaxBuddy and KoinX have their unique strengths. TaxBuddy is a great choice for those who need an all-in-one platform for income tax filing, investment management, and business compliance. KoinX, however, is the go-to platform for crypto investors and traders looking for specialized tools to handle crypto tax compliance.

The right choice depends on your needs. If you require a broader tax solution, TaxBuddy is the way to go. If you are focused on crypto, KoinX offers tailored features to meet your tax filing requirements.


FAQs

Q1. What is TaxBuddy?

TaxBuddy is an online platform designed to simplify the process of filing income taxes, offering both self-filing and expert-assisted filing options. It provides a range of services, including investment advisory, GST compliance, and post-filing support.


Q2. Who can use TaxBuddy?

TaxBuddy is ideal for salaried employees, business owners, freelancers, and professionals. It also works well for individuals with multiple income sources, helping them file their taxes quickly and accurately.


Q3. How does TaxBuddy simplify the tax filing process?

TaxBuddy automates many aspects of tax filing, such as pre-filling data using PAN and Aadhaar details, ensuring a quick and accurate process. The platform also provides expert assistance for complex tax situations, making it easy for users at any experience level.


Q4. Can TaxBuddy help me with GST filing?

Yes, TaxBuddy provides GST registration, filing, and compliance support for businesses, making it an excellent choice for entrepreneurs and small business owners who need help managing their GST obligations.


Q5. Does TaxBuddy offer investment advisory services?

Yes, TaxBuddy offers investment advisory services through tools like Portfolio Doctor, which analyzes your mutual fund investments, and Wealth Builder, a personalized investment advisory service to help you make informed decisions.


Q6. What happens if I get a tax notice after filing my return?

TaxBuddy provides free assistance to resolve any tax notices received after filing your return. Our experts will guide you through the process of addressing and responding to the notice.


Q7. How does TaxBuddy ensure my data is secure?

TaxBuddy follows strict security protocols, including encryption technologies and regular audits to protect your personal and financial information, ensuring that your data remains safe.


Q8. Can I file my taxes on the go with TaxBuddy?

Yes! TaxBuddy has a mobile app that allows you to file taxes, track refunds, and access expert assistance directly from your smartphone, offering flexibility and convenience.


Q9. How do I contact TaxBuddy's customer support?

TaxBuddy offers 24/7 customer support through live chat, calls, and email. Whether you have simple questions or need detailed guidance, our team is available to help anytime.


Q10. Is TaxBuddy only for income tax filing?

No, TaxBuddy offers a full range of services, including investment advisory, GST compliance, TDS filings, and more. It is designed to handle various tax-related needs for individuals and businesses alike.



 
 
 

Related Posts

See All

Comments

bottom of page