https://www.taxtmi.com/article/detailed?id=10489 The Finance Act, 2022 introduced TDS under section 194S effective 1 July 2022, requiring the payer of consideration for transfer of virtual digital assets to deduct tax at source from payments to resident transferors when aggregate consideration in a financial year exceeds the prescribed thresholds for specified persons and others. Deduction is at the time of credit or payment, whichever is earlier. CBDT Circular No.13/2022 clarifies payer responsibility across peer-to-peer transactions, exchanges, brokers and in-kind transfers, excludes GST and commission from consideration, and requires pre-effective-period transfers in the same financial year to be counted for threshold calculation. en-us Tue, 28 Jun 2022 07:47:04 +0530 Tue, 28 Jun 2022 07:47:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10489 The Finance Act, 2022 introduced TDS under section 194S effective 1 July 2022, requiring the payer of consideration for transfer of virtual digital assets to deduct tax at source from payments to resident transferors when aggregate consideration in a financial year exceeds the prescribed thresholds for specified persons and others. Deduction is at the time of credit or payment, whichever is earlier. CBDT Circular No.13/2022 clarifies payer responsibility across peer-to-peer transactions, exchanges, brokers and in-kind transfers, excludes GST and commission from consideration, and requires pre-effective-period transfers in the same financial year to be counted for threshold calculation. Articles Income Tax Tue, 28 Jun 2022 07:47:04 +0530 https://www.taxtmi.com/article/detailed?id=10489