Do I have to pay tax on the referral earned through exchanges?

Referral income earned through exchanges will be subjected to tax as per the regular tax slab of the referrer, i.e, the crypto provision of 30% will not apply on such income. However, if you decide to sell your referral crypto earnings, 1% TDS will then be applicable on the total sell transaction value.

For example, if you have earned 1000 SHIB via referral, and you plan to sell it, you will be then charged 1% TDS on the total sell transaction value.