Quick Summary
Maharashtra-based cryptocurrency exchanges contributed the highest tax deducted at source (TDS) on virtual digital asset (VDA) transactions in FY 2024-25, with collections touching ₹293.40 crore, according to finance ministry data. Karnataka followed with ₹133.94 crore, while Gujarat reported ₹28.63 crore. The figures reflect the location of crypto exchanges rather than the geographical origin of trades. Delhi emerged as the fourth-largest contributor, witnessing a sharp rise in TDS collection
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FAQ :
Maharashtra collected the highest amount of TDS on VDA transactions, amounting to ₹293.40 crore in FY25.
Overall TDS on VDA transactions rose by over 41% in FY25, reaching ₹511.83 crore, up from ₹362.70 crore in FY24.
No, the figures reflect the geographical location of the cryptocurrency exchanges, not necessarily the origin of the trades.
Delhi witnessed a sharp rise in TDS collections, increasing to ₹28.33 crore in FY25 from just ₹0.99 crore in the previous year.
The 1% TDS was introduced to enable the tracking of digital asset transactions.
Overseas platforms catering to Indian users are currently under scrutiny for non-compliance with TDS provisions.
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