https://www.taxtmi.com/circulars?id=65686 Payers must deduct tax at source when paying consideration for transfer of virtual digital assets at the time of credit or payment; buyers in peer-to-peer trades are responsible for TDS, must deposit the tax, and file prescribed TDS statements. Specified person status determines higher exemption thresholds. For in-kind or VDA-for-VDA consideration, tax must be paid before release of consideration and proof produced; both parties in exchanges report TDS and challan details. Once TDS under the VDA mechanism is made, the separate purchase-related TDS provision need not apply. en-us Tue, 28 Jun 2022 00:00:00 +0530 Tue, 28 Jun 2022 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=65686 Payers must deduct tax at source when paying consideration for transfer of virtual digital assets at the time of credit or payment; buyers in peer-to-peer trades are responsible for TDS, must deposit the tax, and file prescribed TDS statements. Specified person status determines higher exemption thresholds. For in-kind or VDA-for-VDA consideration, tax must be paid before release of consideration and proof produced; both parties in exchanges report TDS and challan details. Once TDS under the VDA mechanism is made, the separate purchase-related TDS provision need not apply. Circulars Income Tax Tue, 28 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=65686