The Burden Of Deriving TDS Is Mainly On Crypto Exchanges: CBDT FAQ

NFT Metaverse Prices Follow Crypto Crash Innovations Find Grace

The Income Tax Department said on Wednesday that the 1% TDS on the transfer of virtual digital assets would be levied on the net value of the transaction and the burden of deducting the tax would fall primarily on the exchanges. The Central Board of Direct Taxes (CBDT) has published a FAQ on the provisions … Read more

The Burden Of Deriving TDS Is Mainly On Crypto Exchanges: CBDT FAQ

NFT Metaverse Prices Follow Crypto Crash Innovations Find Grace

The Income Tax Department said on Wednesday that the 1% TDS on the transfer of virtual digital assets would be levied on the net value of the transaction and the burden of deducting the tax would fall primarily on the exchanges. The Central Board of Direct Taxes (CBDT) has published a FAQ on the provisions … Read more

Cryptocurrency Taxation FAQ, Virtual Digital Assets In Works

Cryptocurrency Taxation FAQ Virtual Digital Assets In Works

The government is working on a cryptocurrency taxation FAQ, which will provide nuanced clarification on the applicability of income tax and GST on virtual digital assets, an official said. The Frequently Asked Questions (FAQ) set, which is being drafted by the Department of Economic Affairs (DEA), RBI and Department of Revenue, will also be reviewed … Read more