Regarding VDA (Cryptocurrency) TDS
This query is : Resolved
15 July 2023
I have a question:
1. I buy Crypto (VDA) from CoinDCX Exchange.
I buy using INR. (they don’t deduct TDS) but if i sell the same crypto on their website, they deduct TDS, but i am not selling the purchased Crypto on their website. Instead I transfer it to my Wallet and then sell it to some individual.
2. Now suppose i transfer the Crypto purchased from CoinDCX exchange and sell it to some XYZ person using P2P method i.e. Person to Person, so the Buyer has to deduct TDS? Or I have to deduct TDS? The amount range is between 1000₹ to 100000₹
So in this case i have to deduct TDS or the Buyer will deduct? Thanks
1. I buy Crypto (VDA) from CoinDCX Exchange.
I buy using INR. (they don’t deduct TDS) but if i sell the same crypto on their website, they deduct TDS, but i am not selling the purchased Crypto on their website. Instead I transfer it to my Wallet and then sell it to some individual.
2. Now suppose i transfer the Crypto purchased from CoinDCX exchange and sell it to some XYZ person using P2P method i.e. Person to Person, so the Buyer has to deduct TDS? Or I have to deduct TDS? The amount range is between 1000₹ to 100000₹
So in this case i have to deduct TDS or the Buyer will deduct? Thanks
CA R SEETHARAMAN
(Expert)
15 July 2023
The buyer must withhold TDS when transacting using P2P platforms.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Query on effect of registration of property
- GST on reimbursement of expenses
- Visiting card purchase
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Whether output tax is taken credit by purchaser
- Additional trade name
- Wrong CMPo8 file
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
