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1% TDS on all crypto sales from July 1

1% TDS on all crypto sales from July 1

 

Come July 1, all crypto sell orders will attract a TDS of 1% of the transaction value. The new rule means that no TDS will be deducted from the buyer, and the tax burden will lie solely on the seller. So how does this entire process work? Will withdrawal of money from a crypto exchange wallet also be liable for TDS? What transactions will attract a higher 5% TDS? Explaining the complexities is Teena Jain Kaushal, Senior Editor, Business Today.