KuCoin India to Implement 1% TDS on Crypto Transfe

KuCoin India introduces 1% TDS on crypto trades from April 10, 2024.

Additional 5% TDS for non-compliant traders under India's tax law.

KuCoin adapts to India's tax rules, ensuring transparent crypto transactions.

KuCoin has announced the implementation of a 1% Tax Deducted at Source (TDS) for its users in India. This development follows the successful registration of the exchange’s Financial Intelligence Unit (FIU) in the country. From April 10, 2024, the platform will charge TDS on the transfer of Virtual Digital Assets (VDA) as per the guidelines of the Indian Government.Compliance with Local Tax Regulations

Per the guidelines of the Indian Income Tax Department, KuCoin will cut TDS for its users and will pay the deducted tax directly to the authorities.