How to How to pay and file TDS online on virtual Digital Assets / virtual currency .
TDS on payment for transfer of virtual digital asset to a resident at the rate of 1% of such sum has been proposed in Finance Bill 2022. This is effective from 1st July 2022.
To make a TDS payment online, you need to visit https://www.protean-tinpan.com/ and under the ‘Services’ section click on ‘e-payment Pay Taxes Online’. Then under the TDS/TCS section click on the ‘CHALLAN NO./ITNS 281’ option
Therafter you have to Select
- Nature of Payment* : 94S Payment for Consideration for Transfer of Virtual Digital Assets
- Choose Mode of Payment ( Net Banking or Debit Card)
- Enter TAN number
- Choose Assessment year
- Enter Address
- Fill up Captcha Code
How to file TDS online on virtual currency .
You need to file TDS return in Form 26QE . Utility can be downoaded from https://www.protean-tinpan.com/
Watch this video on TDS form 26QE and Form 16E for TDS on Virtual currency
How to issue TDS certificate for TDS deducted on Virtual Currency
You need to issue TDS certificate in Form 16E which can be downloaded from traces portal https://contents.tdscpc.gov.in/
This article will help on following search topics
virtual digital assets,tds on virtual digital assets,rate of tds on virtual digital assets,virtual digital asset,taxation on virtual digital assets,taxation on income from virtual digital assets,digital assets,virtual digital assets tax,virtual digital assets taxation,tds on virtual digital assest,gift of virtual digital assets,how to deposit tds on virtual digital asset,how to deduct tds on virtutal digital asset,tax on virtual digital asset, How to File tds return of Virtual Digital Assets,