cryptocurrency Personal Finance Tax

Selling cryptocurrencies bypassing exchange? Here’s how you need to deduct 1% TDS

Reading now: 543
moneycontrol.com

From July 1, you will have to pay 1 percent TDS (tax deducted at source) on transfer of a virtual digital asset (VDA), as per a new income-tax section, 194S, introduced in the Finance Act, 2022.

The TDS is required to be made at the time the buyer makes the payment to the seller. In its previous circular, dated 22 June, the Central Board of Direct Taxes (CBDT) made it clear that onus of withholding TDS will be on the buyer, exchange or broker.

Read more on moneycontrol.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
DMCA