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Why is TDS applicable on the Buy side of Non-INR pairs (C2C) unlike the Buy side of INR pairs (F2C)?

When you buy a pair that isn't in Indian Rupees (INR), the process begins by selling the base pair. For example, when buying BTC with USDT, USDT is sold first, followed by the purchase of BTC.

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TDS for CoinDCX Pro Users

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Who will be liable to deduct 1% TDS?

The exchange shall deduct the 1% TDS based on various order types.

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TDS for CoinDCX Pro Users

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Is KYC mandatory for new users starting July 01, 2022?

Yes, all users will have to mandatorily complete their KYC process on/or before July 1, 2022, in order to make any transaction (Buy/Sell) on CoinDCX. We would urge you to complete your KYC well in advance, to avoid any delays.

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TDS for CoinDCX Pro Users

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Is 1% TDS applicable for EARN?

TDS will not be applicable for EARN. If you sell your crypto assets, only then you’ll be levied the 1% TDS.

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TDS for CoinDCX App Users

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Is TDS applicable on “Gross order amount” or “Net order amount”?

According to the CBDT circular dated June 23, 2022 [read here], TDS is applicable on the Net order amount. In simple words, the Net order amount is the transaction value minus the exchange fees. For example, if you want to sell BTC worth ₹1000, an exchange fee of 0.2% is applicable on this amount af

Knowledge Base Article

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TDS for CoinDCX Pro Users

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Can you explain with examples how TDS will be calculated for various order types (Spot/Margin/Future)?

Insta Spot Buy - No TDS is applicable (App) Quickbuy Insta Buy - No TDS is applicable (Web) Insta Spot Sell - 1% TDS is applicable (App) Quickbuy Insta Sell - 1% TDS is applicable (Web) For example: 1% TDS to be deducted on the overall transaction value. If the sell value is INR 1500, we need to ded

Knowledge Base Article

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TDS for CoinDCX Pro Users

C
How can I avoid getting taxed on crypto?

The tax measures announced by the Government on cryptos are comprehensive, and it is unlawful to evade taxes.

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TDS for CoinDCX Pro Users

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Is TDS applicable on all transactions (buying crypto or selling crypto or both, adding money, withdrawal)?

Tax Deducted at Source (TDS) applies exclusively to the sale of crypto assets. When you purchase or withdraw funds from your CoinDCX wallet to your bank account, TDS does not come into play. However, it's crucial to keep in mind that TDS is relevant for buy orders involving C2C (Crypto-to-Crypto) pa

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TDS for CoinDCX App Users

C
Is TDS applicable if I transfer Crypto through the blockchain wallet?

We do not apply TDS (Tax Deducted at Source) for Crypto deposits or withdrawals made via a blockchain wallet route. This is because such transactions do not involve the transfer of Crypto assets through our exchange platform.

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TDS for CoinDCX App Users

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Is 1% TDS applicable for SIP?

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

Knowledge Base Article

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TDS for CoinDCX App Users

C
Is KYC mandatory starting July 01, 2022?

Starting from July 1, 2022, completing your KYC (Know Your Customer) process is essential for all CoinDCX users to engage in transactions such as buying or selling. We strongly advise completing your KYC promptly to avoid any potential delays in your transactions.

Knowledge Base Article

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TDS for CoinDCX App Users

C
On which transactions and when will the 1% TDS be applicable?

TDS will only be applicable when you sell a crypto asset. For instance, if you have INR 100 worth of Bitcoin in your wallet and you decide to sell it. The moment you make the sell transaction, 1% TDS on INR 100, i.e., INR 1, will be deducted from the sell value. The amount which you will get back in

Knowledge Base Article

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TDS for CoinDCX App Users

C
Is the 1% TDS mandatory?

According to the updated Income Tax rules, CoinDCX is required to deduct TDS (Tax Deducted at Source) on relevant orders. But don't worry, this amount can be adjusted or claimed as a refund when you file your Income Tax Return (ITR) for the year.

Knowledge Base Article

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TDS for CoinDCX App Users

C
How can I avoid getting taxed on crypto?

The tax measures announced by the Government on cryptos are comprehensive, and it is unlawful to evade taxes.

Knowledge Base Article

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TDS for CoinDCX App Users

C
Will the 1% TDS be applied to the amount after I transfer the money from CoinDCX to my bank account or will it be applied to every trade that I do?

When you sell any crypto asset, TDS will be applied to that transaction. To check the TDS deductions before selling, simply click on the (i) button available on the SELL ORDER screen. Furthermore, you can easily view the TDS deductions for each transaction by visiting the "Order Details" page. You w

Knowledge Base Article

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TDS for CoinDCX App Users

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To whom is this TDS paid?

TDS is the tax deducted at the source which is paid to the Government on behalf of the deductee by CoinDCX as a part of compliance with the new crypto taxation rules announced in the Union Budget 2022. This will be available as a credit against your tax liabilities at the end of the financial year.

Knowledge Base Article

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TDS for CoinDCX App Users

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Who will be liable to deduct 1% TDS?

The 1% TDS is to be deducted from the sum payable on the sell value of crypto assets belonging to them. The exchange shall deduct the TDS before making payment to a user for selling any crypto asset.

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TDS for CoinDCX App Users

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What is the 1% TDS and where will it be applicable?

As per revised Income Tax regulations, the 1% TDS will be applicable with effect from July 01, 2022 on “Payment on transfer of Virtual Digital Asset”. Here’s the official link to the Income Tax Website. Please refer to Section 194S, which mentions the taxation rules on Virtual Digital Assets: https:

Knowledge Base Article

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TDS for CoinDCX Pro Users

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How much TDS is applicable on margin orders with leverage?

With respect to the recent TDS regulations decided by the Income Tax Department of India, Margin trading may attract a higher TDS as you increase leverage since it is applicable on the entire transaction value. On a crypto-to-crypto (C2C) Margin Buy order, a TDS of 1% is to be deducted on the openin

Knowledge Base Article

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TDS for CoinDCX Pro Users

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Will CoinDCX issue any statements/certificates for the 1% TDS deducted?

We will issue the TDS certificate (16A) within 90 days of the closure of the financial quarter. The financial quarters are as follows [April - May - June | July- Aug- Sep | Oct- Nov- Dec | Jan- Feb - March]. This will be sent to all users via email communication with the subject line - “CoinDCX - [F

Knowledge Base Article

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TDS for CoinDCX App Users

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DISCLAIMER

The information and material contained herein are subject to change without prior notice including prices which may fluctuate based on market demand and supply. The material available on the site is proprietary to CoinDCX, its parent, Licensor and/or its affiliates and is for informational purposes and informed investors only. This material is not: (i) an offer, or solicitation of an offer, to invest in, or to buy or sell, any interests or shares, or to participate in any investment or trading strategy, or (ii) intended to provide accounting, legal, or tax advice, or investment recommendations. Note Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.

*Data sourced from Looker app as on 01st May,2023
*Data as on 01st May,2023
*Quarterly trading volume for Q4 FY'22. Currency conversion rate applied as in data capturing period
*FIU Registered entity, NEBLIO TECHNOLOGIES PVT LTD
*Certified in India for May 2023-24