TDS on Crypto Trading

What is TDS?
TDS stands for Tax Deducted at Source, as per the Income Tax Act, it is a tax paid by an individual or entity to the central government for certain payments...
Thu, 30 Jun, 2022 at 7:10 PM
What is 1% TDS on virtual digital assets?
As per revised Income Tax regulations, Effective 1 July 2022, 1% TDS is applicable on the sale/transfer of virtual digital assets (VDA/crypto) as per Sectio...
Thu, 30 Jun, 2022 at 7:10 PM
When will the 1% TDS be applicable on Defy?
1% TDS will be applicable Effective starting 1 July 2022 on Defy.
Thu, 30 Jun, 2022 at 7:10 PM
Is 1% TDS compulsory on virtual digital assets?
Yes, as per revised Income Tax regulations, 1% TDS is compulsory on all sell transactions of cryptocurrencies.  
Thu, 30 Jun, 2022 at 7:10 PM
To whom is 1% TDS paid too?
Your 1% TDS is paid to the Government of India on behalf of you in adherence to the new crypto taxation rules for 2022.
Thu, 30 Jun, 2022 at 7:10 PM
Who will be accountable to deduct 1% TDS?
Defy shall deduct the 1% TDS amount when the transaction is executed. The remaining amount will be deposited into your bank account after deducting the appl...
Thu, 30 Jun, 2022 at 7:11 PM
Where and when will the 1% TDS be applicable?
1% TDS is applicable only on the sale transaction of a cryptocurrency on the Defy platform.
Thu, 30 Jun, 2022 at 7:11 PM
Is 1% TDS applicable on all sell transactions?
1% TDS treatment applies for selling individual tokens/coins and baskets of cryptocurrencies, TDS is separately deducted for each sell order executed on our...
Thu, 30 Jun, 2022 at 7:11 PM
Where can I see my TDS deductions?
Before executing the sale of a crypto asset, you will see the details below:  Selling price of the token Order value  TDS (%) Exchange fees Final rece...
Thu, 30 Jun, 2022 at 7:11 PM
Will Defy issue any invoice/certificates on TDS deductions?
Defy will provide its users a detailed invoice with a break-up of amounts deducted, that includes TDS and fees for each sell order that is executed on our p...
Thu, 30 Jun, 2022 at 7:11 PM