I-T Dept mistakenly reduces TDS on virtual digital assets to 0.1%, corrects it to 1%

I-T Dept mistakenly reduces TDS on virtual digital assets to 0.1%, corrects it to 1%

• By Staff Writer

Income Tax Department portal on Wednesday updated its document on tax deducted at source (TDS), reiterating that TDS on payments made on the transfer of virtual digital assets remains at 1%, as stated in Budget. The website earlier mentioned that it has been dropped to 0.1%. However, after the change was noticed, the website updated the document rectifying the error.