Income Tax department collects over Rs 700 crore in TDS from online gaming, crypto trade

Income Tax department collects over Rs 700 crore in TDS from online gaming, crypto trade

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The government has collected more than Rs 700 crore in taxes till now this fiscal after a new TDS regime was brought in for online gaming and trade in cryptocurrency, CBDT Chairperson Nitin Gupta said.




The government has collected more than Rs 700 crore in taxes till now this fiscal after a new TDS regime was brought in for online gaming and trade in cryptocurrency, CBDT Chairperson Nitin Gupta said on Friday.

About Rs 600 crore in taxes (under the tax deduction at source head) has been collected during the current financial year after the new online gaming regime kicked in, while around Rs 105 crore through TDS has been mopped up during 2023-24 fiscal after the taxation of crypto currency regime kicked in April 1 last year, he told reporters here.

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Pooja Gupta

CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

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CA Pooja Gupta (CA, ISA, M.com) having 15 years of experience. Educator and Digital Creator

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