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
15 July 2023
The buyer must withhold TDS when transacting using P2P platforms.
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