1% tds on vda

The rules regarding the tax deducted at source on virtual digital assets (VDAs) and cryptocurrencies have come into effect from Friday (July 1). The rules make it mandatory for the purchaser of a VDA to deduct 1 per cent of the amount paid…

A set of new rules regarding taxations of cryptocurrencies and Virtual Digital Assets have already come into effect from July 1 under which the buyer of a VDA has to pay 1 per cent tax deducted at source (TDS) of the amount paid to the…

The Central Board of Direct Taxes (CBDT) has issued detailed guidelines on the levy of tax deducted at source (TDS) on virtual digital assets (VDA) or crypto assets, which will be effective July 1. It has specified the timelines to be…