CoinDCX, Zebpay to cut TDS on all transactions

As crypto exchanges gear up to levy a 1 per cent TDS on all crypto transactions as mandated by the government, there is no uniformity in the way this will be processed by exchanges.

While few exchanges like Giottus will cut Tax Deducted at Source (TDS) based only on the exemption limit set by the government, others like CoinDCX and Zebpay will cut TDS on all transactions irrespective of the transaction amount.

“We, at CoinDCX will cut TDS on all transactions to be on the safe side. The threshold of Rs 10,000 for individuals and Rs 50,000 for institutions cannot be implemented”, Mridul Gupta, the COO of the unicorn crypto exchange CoinDCX told DH.