TDS on virtual digital assets: buyer must deduct tax at source under section 194S in OTC deals. The operative rule requires the buyer to effect tax deduction at source under section 194S on payment for the transfer of a virtual digital asset in over the counter dealings where the buyer and seller know each other, placing primary withholding responsibility and compliance obligations on the purchasing party.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
TDS on virtual digital assets: buyer must deduct tax at source under section 194S in OTC deals.
The operative rule requires the buyer to effect tax deduction at source under section 194S on payment for the transfer of a virtual digital asset in over the counter dealings where the buyer and seller know each other, placing primary withholding responsibility and compliance obligations on the purchasing party.
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