Crypto tax: 1% TDS rule on digital assets effective from today - Date 01/07/2022

[Prabhu Pawar]

Mini
Crypto tax: The TDS rule would come in force from July 1, Friday for transactions of more than Rs 10,000. The move comes after the imposition of 30 percent flat income tax on cryptocurrencies from 1st April 2022.
The rules regarding the tax deducted at source (TDS) on virtual digital assets (VDAs) and cryptocurrencies for transactions of more than Rs 10,000 have come into effect from Friday (July 1).
The move comes after the imposition of 30 percent flat income tax on cryptocurrencies from 1st April 2022
Finance Minister Nirmala Sitharaman, during the Union Budget 2022-23 in Parliament on February 1 introduced a 1 percent tax deducted at source (TDS) on the transfer of the virtual digital assets (VDAs) — or simply put crypto and Non Fungible Tokens (NFTs).
More details visit this link. https://www.cnbctv18.com/cryptocurrency/crypto-tax-1-tds-to-be-levied-on-cryptocurrencies-from-july-1-13986942.htm