Who is responsible for the deduction of tax under section 194S where VDAs are transferred through an Exchange and payment to the seller is made directly by the exchange?
TDS on payment for the transfer of Virtual Digital Assets (VDAs)
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
TDS on Virtual Digital Asset transfers: exchanges must deduct tax at source when they pay sellers directly. Where transfers of Virtual Digital Assets occur through a trading platform and the platform makes payment directly to the seller, the platform bears the withholding responsibility: under section 194S the exchange is liable to deduct tax at source on the payment made to the seller.
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 Asset transfers: exchanges must deduct tax at source when they pay sellers directly.
Where transfers of Virtual Digital Assets occur through a trading platform and the platform makes payment directly to the seller, the platform bears the withholding responsibility: under section 194S the exchange is liable to deduct tax at source on the payment made to the seller.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.