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TDS ON VDA
Understanding India's evolving crypto discourseIndia is actively shaping its digital asset future. Authorities are implementing stricter rules for crypto platforms and transactions. Tax ...- Govt flags ‘high-risk’ crypto system in note to Parliamentary panelIndia's virtual digital asset sector is now high risk. Intelligence reports reveal extensive illegal activities including drug trafficking ...
- New Form 141 introduced for TDS filing: 4 existing forms merged into one challan-cum-statementThe Income Tax Department has introduced Form 141, a consolidated challan-cum-statement, merging four previous TDS forms. This new form sim...
- Taxman sets out to draw up a crypto codeNot only are crypto gains taxed at the income tax rate of 30% (unlike the lower capital gains tax on stock profits), VDA traders can't offs...
- Income tax on crypto currency: How did budget 2025 impact the taxation on virtual digital assets?Budget 2025: Income tax on cryptocurrency transaction. After Budget 2025 there is no change in taxation of cryptocurrencies as they continu...
- The impact of India's 1% TDS on Virtual Digital Assets: A call for reformIndia's 1% TDS and 30% tax on VDAs led to a 97% trading volume drop, 81% user decline, and migration to offshore exchanges. NALSAR and Meya...
- No penal interest on TDS for crypto investors who failed to file the TDS return by May 31, 2023: CBDTVirtual digital assets tax: Purchaser of virtual digital assets (VDA) like Bitcoin (BTC), Ethereum (ETH), Solana (Sol), Algorand (Algo), Sh...
- Budget 2024: Finding the sweet spot for VDA taxThe Indian government introduced taxation on VDAs during the Union Budget 2022. It brought much-needed clarity to investors and the industr...
- TDS at 1% pushing crypto investors to grey market: Will Budget 2024 reconsider it?TDS rate on crypto: in Budget 2022, the government brought out rules on how capital gains from different virtual digital assets such as cry...
- 90% crypto trading shifted to offshore platforms on TDS: studyThe 1% TDS on virtual digital assets, introduced from July 1, 2022, has led to an exodus of users, funds and trades to offshore platforms, ...
- Centre losing revenue as crypto trading moves offshoreThe 1% TDS on virtual digital assets, introduced from July 1, 2022, has led to an exodus of users, funds and trades to offshore platforms, ...
- How TDS on crypto and virtual digital assets will work from todayThe Central Board of Direct Taxes has issued a circular explaining the guidelines about how TDS will work on crypto, virtual digital assets...
- TDS on crypto, virtual digital asset is not applicable in these situationsEffective from July 1, 2022, TDS will be applicable at the time of transfer of virtual digital assets, crypto and NFTs. The TDS will be app...
- TDS on crypto, VDAs: CBDT issues new circular on peer to peer transactionsThe Central Board of Direct Taxes (CBDT) has issued a further circular clarifying how TDS on virtual digital assets (VDA) and crypto will w...
- CBDT: Buyer to Deduct Tax in P2P Virtual Asset Exchange"In a peer-to-peer (ie buyer to the seller without going through an Exchange) transaction, the buyer (ie person paying the consideration) i...
- CBDT notifies TDS disclosure requirements for cryptos, virtual digital assetsFrom July 1, tax deducted at source (TDS) of 1 per cent will be levied on payments towards virtual digital assets or cryptocurrencies beyon...
- Employers may have to pay 30% tax on crypto offered to employees as compensation“Norms are being worked out… These will be issued soon,” a government official said. ET had earlier reported that credit card rewards point...
- Rate of TDS on virtual digital assets shall be 1 per cent, clarifies government"Some media reports have come to the notice of CBDT claiming that the rate of TDS on Virtual Digital Assets(VDA) has been reduced to 0.1%. ...
- Has govt gone too far by slapping a 1% TDS on transfers of virtual digital assets?A back-of-the-envelope calculations suggest that a trader will be left with 60 per cent of their initial capital after TDS on 50 trades. Th...
- Crypto mining cost not to be allowed as deduction under I-T Act: FinMinThe 2022-23 Budget has brought in clarity concerning the levy of income tax on crypto assets. From April 1, a 30 per cent I-T plus cess and...
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