Indian finance department will start 1% TDS ( TAX DEDUCTED AT SOURCE) on 1st July 2022. Every Indian will need to TDS paid deal with Crypto.
Rules :
1 If you Buy crypto against INR You not need to pay TDS
2 If you sell Crypto against INR you need to paid 1% TDS
3 If you Buy or sell crypto to crypto every trade 1% TDS deducted.
And also 30% tax paid to if you make profit on crypto trading and mining etc.
This information I share with you I read more articles regarding this. This article credit for the all indian crypto exchanges provided the article.
I Give you Simple Example To the TDS HOW DEDUCTED.
If you Start trading ₹10000 and Buy USDT you not need to give TDS
Than This USDT use to buy btc so you need 1%tds.
Than you again sell btc in usdt u need 1% TDS.
This Trade you make ₹2000 profit.
Than you need to paid ₹600 tax
But you already paid tds some amount.
For example this TDS amount is ₹100. Than you need to pay only ₹500 TAX.
THIS IS I OWN READ ARTICLE AND I KNOW THIS TYPE TAX POLICY IN INDIA NOW. MORE INFORMATION YOU DISCUSSION WITH YOU C.A.
THANKS.