tds on virtual digital assets

Tax Talk: Know TDS changes on virtual digital assets

[ad_1] By Neha Malhotra The Finance Act 2022 rolled out two TDS amendments, pertaining to Benefit/ Perquisites and Virtual Digital Assets (VDAs) by introducing section 194R and 194S in the Income-tax Act, 1961 (‘the Act’),effective from July 1, 2022. Section 194R casts an obligation to deduct tax at source @10% on any person providing any …

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How TDS on Virtual Digital Assets will work from July 1

The Union Budget, 2022 introduced taxation on Virtual Digital Assets (VDA), commonly referred to as cryptocurrencies. Tax will be levied on transfer of VDA at a flat tax of 30% (besides cess and applicable surcharge). It would be interesting to note that income from VDA will have to be computed without deduction for any expenses …

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TDS on virtual digital assets from July 1: Read CBDT guidelines on crypto tax

[ad_1] New Delhi: The income tax department on Wednesday said the 1 per cent TDS on transfer of virtual digital assets would be levied on net transaction value and the onus of deducting the tax would primarily be on the exchanges. The Central Board of Direct Taxes (CBDT) issued an FAQ on the TDS provisions …

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