Is 1% TDS applicable for SIP?
Updated
TDS will not be applicable for Systematic Investment Plan (SIP) orders because you are buying crypto-assets via SIP. The TDS is applicable only on selling crypto assets. When you make a SIP transaction, the token gets added to your portfolio. If you choose to sell that token from your portfolio, the 1% TDS will then be deducted.
For example, if you had opted in for the BTC SIP of Rs. 2,000 per week. Every week, BTC worth Rs. 2,000 gets bought and is added to your portfolio. Once you decide to sell this BTC from your portfolio, only then the 1% TDS is deducted from the sell transaction value.
