Revenue Tax Dept Fixes Gaffes, “Restores” 1% TDS on Digital Belongings After “Scarcity”


Revenue Tax Division clarified that TDS on digital digital property will stay at 1 p.c

In a kind of confusion, the Revenue Tax Division’s portal on Wednesday up to date its doc on Tax Deduction at Supply (TDS), reiterating that TDS on digital digital property stays at 1 per cent, as per the Union Finances for 2022-23. said in. It had earlier talked about that the speed had been lowered to 0.1 per cent.

There was a stir after the division’s web site talked about earlier that the TDS price for digital digital property has been lowered from 1 per cent TDS to 0.1 per cent on such properties introduced within the Union Finances.

Nevertheless, after the change was seen by a cross part of individuals, the web site up to date the doc, rectifying the error.

A number of crypto platforms and traders actively mentioned the matter on social media.

The web site had additionally mentioned that no tax could be relevant if the overall worth through the monetary yr doesn’t exceed Rs 10,000 and through the monetary yr doesn’t exceed Rs 50,000, which stays unchanged.

1 p.c TDS on digital digital property can be relevant from July 1, 2022.





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