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HS
Is KYC mandatory 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.

Knowledge Base Article

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TDS for CoinDCX App Users

HS
What is Section 206AB in the Income Tax Act?

As per Section 206AB of the Income Tax Act, 1961, if any user has not filed their Income Tax Return in the last two years and the amount of TDS is ₹50,000 or more in each of these two previous years, those users are considered defaulters.We will temporarily block those defaulter’s accounts from July

Knowledge Base Article

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TDS for CoinDCX Pro Users

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

This is because when you buy a Non-INR pair, we are actually first selling the base pair. For example, if you want to buy BTC with USDT, here USDT is getting sold and BTC is getting bought.

Knowledge Base Article

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TDS for CoinDCX Pro Users

HS
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.

Knowledge Base Article

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TDS for CoinDCX Pro Users

HS
Who will be liable to deduct 1% TDS?

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

Knowledge Base Article

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TDS for CoinDCX Pro Users

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

No, we will not deduct TDS in case of Crypto deposits or Crypto withdrawals done through the blockchain wallet route as this will not be considered as transfer of Crypto through our exchange.

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TDS for CoinDCX App Users

HS
Why is my TDS % higher than 1%?

Please note that although the usual TDS rate stands at 1%, there are certain cases where a higher TDS rate needs to be charged based on the Government of India guidelines. Kindly continue reading for complete information.TDS at 5%:If you have not filed your Income Tax Return (ITR) for the past two f

Knowledge Base Article

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TDS for CoinDCX App Users

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

TDS is applicable only on sell transactions of crypto assets. It is not applicable on buying or withdrawing funds from the CoinDCX wallet to your bank account.

Knowledge Base Article

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TDS for CoinDCX App Users

HS
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 App Users

HS
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

HS
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

HS
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 deduct

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TDS for CoinDCX Pro Users

HS
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 aft

Knowledge Base Article

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TDS for CoinDCX Pro Users

HS
What is the 1% TDS?

As per revised Income Tax regulations, the TDS of 1% will be applicable with effect from July 01, 2022, onwards on all sell transactions of crypto assets and NFTs. So, the person selling the crypto asset will be subjected to 1% TDS, which will be deducted from the sell value of their crypto asset. F

Knowledge Base Article

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TDS for CoinDCX App Users

HS
If I buy BTC 5 times in a day and sell it 3 times, will I be charged TDS for every transaction?

No, TDS will not be applicable for all 5 buy orders. However, you'll be charged 1% TDS for all the 3 sell orders.

Knowledge Base Article

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TDS for CoinDCX App Users

HS
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.

Knowledge Base Article

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TDS for CoinDCX App Users

HS
If I pay 1% TDS, should I also pay the 30% tax on crypto assets?

The 30% tax is payable on gains arising from selling crypto assets on or after 1 April, 2022. The 1% TDS is an advance tax payment imposed by the government, which will be deducted from the sell value of crypto assets. Hence, yes, you will have to pay the 30% tax on gains arising from selling crypto

Knowledge Base Article

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TDS for CoinDCX App Users

HS
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

HS
Is the 1% TDS mandatory?

Yes, as per revised Income Tax regulations, the TDS of 1% will be applicable with effect from July 01, 2022, onwards on all sell transactions of crypto assets and NFTs. However, this amount may be adjusted or claimed as a refund while filing ITR for the financial year.

Knowledge Base Article

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TDS for CoinDCX App Users

HS
How do I claim a TDS refund?

TDS will be deducted from every user's crypto asset sale transaction starting on 1 July, 2022. The exchange will deduct 1% on behalf of the seller and deposit it with the government. When filing an ITR for the fiscal year, this amount may be reimbursed if the amount of income tax owed is less t

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