Topic: Coinsecure refund process! (Read 547 times)
Anyone got refund from them. Due to price drop of BTC. Thoose are getting refund are in Good position.
Up to certain extant (I think it is Rupees 2,50,000) no need to file any income tax return. Government of India has exempted this low income category from filing of Income Tax Return.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
I remember when I was 18, I filled out an ITR just for fun and I showed my income as almost NIL. You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
So you really dont need to have some income to file an ITR. Its just a document, and I dont know why people are so much afraid of doing it if they are honest enought.
If you are yourself stealing taxes then how can you expect the company to be absolutely honest with you?
So, what is the current status of the CoinSecure story?
Coinsecure is asking more time for refunds, as they are saying bank is not allowing transactions for cryptocurrency. So at this time they wont be able to transfer money and they want more time. They are asking bankers to allow transactions. What is running is not clear.
Up to certain extant (I think it is Rupees 2,50,000) no need to file any income tax return. Government of India has exempted this low income category from filing of Income Tax Return.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
If they want ,then you can File the ITR for nil or zro tax also. You can fill for 2017-18 year ,Date has beed extended for 31 August.
They are asking ITR-V as a document for taking loans from banks. As intentions are not clear regarding payment process. They have taken so much of time and did not repay my amount. If some body also provide ITR-V then that is not of any use for them, income tax department is going to set the inquiry so no any issues.
Up to certain extant (I think it is Rupees 2,50,000) no need to file any income tax return. Government of India has exempted this low income category from filing of Income Tax Return.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
If they want ,then you can File the ITR for nil or zro tax also. You can fill for 2017-18 year ,Date has beed extended for 31 August.
Up to certain extant (I think it is Rupees 2,50,000) no need to file any income tax return. Government of India has exempted this low income category from filing of Income Tax Return.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
You say you do not have any income tax return. It means you must be falling under this category.
So I am unable to understand how some company can force to provide you Income tax return. Though they may ask for kyc. They are not an institution giving any loan / financing you. Just for refund asking ITR is really very disturbing factor.
I have submitted all documents for KYC still didn't got refund
No way, Neither Coinsecure nor IT dept have any right to ask ITR through Coinsecure. IT dept can check easily anything through PAN, so why they will ask Coinsecure to ask ITR for refund process. If IT dept want they can ask KYC details of user and directly contact user. IT dept never ask through 3rd party because they have all access of data.
That is true. Are they going to act on those IT returns? What if I have shown income of 10,000 Rs? What if I have shown income of Rs 1 Crore? What business is it of theirs?
In both cases, they have no choice but to process the refund. Hell, even if you have not filed IT returns, they are going to process the refund after taking a declaration.
As coinsecure is saying that they have to take loans to payout the customers. So they might have to show these KYC documents to the bank as loan requirement conditions. Some tax issues may be there, as it has become legal and financial matter.
anyone got their refund from coincecure. their kyc process too tough.
I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
UPDATE- Got my money back. Thanks everyone for helping.
I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
Coinsecure has made available non-ITR form also, but that is not available on coinsecure website. You have to send a mail or contact customer care and they will send non-ITR form on the registered e-mail Id.I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
Coinsecure has made available non-ITR form also, but that is not available on coinsecure website. You have to send a mail or contact customer care and they will send non-ITR form on the registered e-mail Id.
So, what is the current status of the CoinSecure story?
They are also asking for Aadhar. What if someone is from Northeast. Aadhar has not been issued in places like Assam. So is it mandatory for this refund process?
Anyone received fund through this process. Their KYC and other documentation is very hard.
At this point, the whole refund process looks like a joke. They are forcing the refund in INR, they are setting deadline to accept refund request, they need customers to explicitly release them from any future litigation, they want customer's ITR data but there is no mention of deadline regarding when the actual refund will take place. And there is literally no furor regarding this. Looks like CoinSecure customers are basically a herd of lamb. They dont even know how to get united and file a class action lawsuit against SECURE BITCOIN TRADERS PRIVATE LIMITED aka CoinSecure.
Perhaps, you could try the Consumer Forum first/ as well.
It's important to have a baseline decency in monetary dealings. If they are failing at that, then apart from criminal charges, approaching the Consumer Forum is the best bet.
Remember, in criminal courts the system favours disposing off the case in favour of the accused unless there's compelling evidence, which is a subjective decision arrived at by the judge. On the other hand, Consumer Forum cases, being civil suits, are more balanced and will be more likely to rule in your favour, with monetary reimbursement, interest, and damages.
At this point, the whole refund process looks like a joke. They are forcing the refund in INR, they are setting deadline to accept refund request, they need customers to explicitly release them from any future litigation, they want customer's ITR data but there is no mention of deadline regarding when the actual refund will take place. And there is literally no furor regarding this. Looks like CoinSecure customers are basically a herd of lamb. They dont even know how to get united and file a class action lawsuit against SECURE BITCOIN TRADERS PRIVATE LIMITED aka CoinSecure.
What you said is the perfect answer. Their is not such rights to show the ITR , they can only ask the KYC document and not more then that . If they are asking ITR then it is crystal clear that they are starting to scam the users with their funds. I opened the account in coinsecure and even gave them KYC document and still more then 18 months they have not even cleared by KYC document. They are really scam exchange and not more then that. Very soon they are going to run away with the users amount.
[/quote]
You are lucky that they didn't cleared your KYC
. Well after the last reply from their cc they never got back to me again nor they updated anything on their website about the procedure for people who do not file ITR. I mailed them again and they sent me the form which I had to sign and mail them with other things to get my money back from them. Hmm then why would CS request ITR , That's way too personal to share with any 3rd Party unknown persons . Pretty messed up situation it seems , KYC should be enough to give users money back what's theirs .
I am not sure why they wanted to collect all those things, may be they want to impress the authorities how strict their policies are 
, i am really glad that i use the site when ever i want to sell the coins and i wont hold my coins in any exchange, if so i would have had a hard time to get my money out. I just have a few hundred rupees in the site and i would rather give it a pass.No, It shows there intention of not giving money to their users. First of all This exchange is about to dead or we can say already dead. When you compare it with Koinex and Zebpay, coinsecure was just a shit. very slow and pathetic exchange. They can never compete with such high quality exchange like Koinex.
So I think they planned all this thing after all who is going to check where those bitcoin are stored. Making these unnecessary document thing will disqualify many of there users to get their money back. So it is like greed is growing so that they can eat more and more money.
What you said is the perfect answer. Their is not such rights to show the ITR , they can only ask the KYC document and not more then that . If they are asking ITR then it is crystal clear that they are starting to scam the users with their funds. I opened the account in coinsecure and even gave them KYC document and still more then 18 months they have not even cleared by KYC document. They are really scam exchange and not more then that. Very soon they are going to run away with the users amount.
Hmm then why would CS request ITR , That's way too personal to share with any 3rd Party unknown persons . Pretty messed up situation it seems , KYC should be enough to give users money back what's theirs .
I am not sure why they wanted to collect all those things, may be they want to impress the authorities how strict their policies are , i am really glad that i use the site when ever i want to sell the coins and i wont hold my coins in any exchange, if so i would have had a hard time to get my money out. I just have a few hundred rupees in the site and i would rather give it a pass.No, It shows there intention of not giving money to their users. First of all This exchange is about to dead or we can say already dead. When you compare it with Koinex and Zebpay, coinsecure was just a shit. very slow and pathetic exchange. They can never compete with such high quality exchange like Koinex.
So I think they planned all this thing after all who is going to check where those bitcoin are stored. Making these unnecessary document thing will disqualify many of there users to get their money back. So it is like greed is growing so that they can eat more and more money.
Seems like Benson also totally vanished from forum :/
Hmm then why would CS request ITR , That's way too personal to share with any 3rd Party unknown persons . Pretty messed up situation it seems , KYC should be enough to give users money back what's theirs .
I am not sure why they wanted to collect all those things, may be they want to impress the authorities how strict their policies are , i am really glad that i use the site when ever i want to sell the coins and i wont hold my coins in any exchange, if so i would have had a hard time to get my money out. I just have a few hundred rupees in the site and i would rather give it a pass. Yeah it is strange. I mailed the coinsecure cc in this regard. Here is there reply.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
Why should any Company, least of all unregulated bitcoin exchanges demand ITR? Even banks where you have crores of money deposited do not ask for ITR details.
And what would the objective be of having your IT return? It really doesn't make sense.
May be IT dept. asked them to do so , this is about huge money refund process .
No way, Neither Coinsecure nor IT dept have any right to ask ITR through Coinsecure. IT dept can check easily anything through PAN, so why they will ask Coinsecure to ask ITR for refund process. If IT dept want they can ask KYC details of user and directly contact user. IT dept never ask through 3rd party because they have all access of data.
Hmm then why would CS request ITR , That's way too personal to share with any 3rd Party unknown persons . Pretty messed up situation it seems , KYC should be enough to give users money back what's theirs .
No way, Neither Coinsecure nor IT dept have any right to ask ITR through Coinsecure. IT dept can check easily anything through PAN, so why they will ask Coinsecure to ask ITR for refund process. If IT dept want they can ask KYC details of user and directly contact user. IT dept never ask through 3rd party because they have all access of data.
That is true. Are they going to act on those IT returns? What if I have shown income of 10,000 Rs? What if I have shown income of Rs 1 Crore? What business is it of theirs?
In both cases, they have no choice but to process the refund. Hell, even if you have not filed IT returns, they are going to process the refund after taking a declaration.
Yeah it is strange. I mailed the coinsecure cc in this regard. Here is there reply.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
Why should any Company, least of all unregulated bitcoin exchanges demand ITR? Even banks where you have crores of money deposited do not ask for ITR details.
And what would the objective be of having your IT return? It really doesn't make sense.
May be IT dept. asked them to do so , this is about huge money refund process .
No way, Neither Coinsecure nor IT dept have any right to ask ITR through Coinsecure. IT dept can check easily anything through PAN, so why they will ask Coinsecure to ask ITR for refund process. If IT dept want they can ask KYC details of user and directly contact user. IT dept never ask through 3rd party because they have all access of data.
Yeah it is strange. I mailed the coinsecure cc in this regard. Here is there reply.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
Why should any Company, least of all unregulated bitcoin exchanges demand ITR? Even banks where you have crores of money deposited do not ask for ITR details.
And what would the objective be of having your IT return? It really doesn't make sense.
May be IT dept. asked them to do so , this is about huge money refund process .
Yeah it is strange. I mailed the coinsecure cc in this regard. Here is there reply.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
Why should any Company, least of all unregulated bitcoin exchanges demand ITR? Even banks where you have crores of money deposited do not ask for ITR details.
And what would the objective be of having your IT return? It really doesn't make sense.
Yeah it is strange. I mailed the coinsecure cc in this regard. Here is there reply.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
"Kavitha (Secure Bitcoin Traders Pvt. Ltd.)
May 17, 4:26 PM IST
Hi,
Please wait we will be updating a declaration for the users who have not filed ITR so far. You are requested to print the declaration, sign and send it with your self-attested KYC document and agreement.
If you have any other queries please email us at [email protected] or Call us on +91 98711 15455. (11am - 8pm, Monday – Saturday)
Warm Regards,
Kavitha
Team Coinsecure"
PS: Don't know why but the image is not getting posted so I have pasted the email contents here.
I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
This does seem very strange. Asking for KYC documents is fine, because they feel the need to prevent money laundering.
But what use would they have for ITR? And can they insist you provide it?
It's strange as till today no company has asked for an ITR form. KYC documents definitely have to be submitted.
I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
This does seem very strange. Asking for KYC documents is fine, because they feel the need to prevent money laundering.
But what use would they have for ITR? And can they insist you provide it?
I have PAN and Adhaar card. I'll talk to the coin secure cc and if they dont refund without the ITR then I will file it.
I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
If you are not filing an ITR because your earnings are meagre or nil, even then you can now file online using the Saral form. Since it's already that time of the year when we file and pay taxes, this wouldn't be too difficult. The Saral form is easy and simple to fill. You will get the acknowledgement immediately. Hopefully, you've got a PANcard, and perhaps Aadhaar.
That should solve your refund worries!
I received a mail this morning from coin secure informing that they have started the refund process. But to claim refund they are asking for my ITR return along with KYC documents. Now I don't file ITR. How would I claim my money?
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