TDS on virtual digital asset transfers: amendment removes enhanced withholding exception under specified person rule, effective next fiscal year. The amendment deletes the reference to section 206AB from sub section (2) of section 194S, thereby removing the non application of the enhanced ... Summary
TDS on virtual digital asset transfers: amendment removes enhanced withholding exception under specified person rule, effective next fiscal year.
The amendment deletes the reference to section 206AB from sub section (2) of section 194S, thereby removing the non application of the enhanced withholding provision for specified persons; payers of consideration for transfer of virtual digital assets remain required to deduct tax at the stipulated rate at time of credit or payment. The change is effective from 1st April, 2025.
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