Namaste Tribe!
Under Section 194S of the Income-tax Act, 1961, a 1% Tax Deducted at Source (TDS) applies to consideration paid for the transfer of Virtual Digital Assets (VDAs), including cryptocurrencies.
WazirX deducts applicable TDS on your trades and deposits it with the Income Tax Department in INR.
When Is TDS Deducted on WazirX?
| Transaction Type | TDS Applicability |
|---|---|
| Buy Crypto with INR | No TDS is deducted. |
| Sell Crypto for INR | 1% TDS is deducted. |
| Buy/Sell in Crypto-to-Crypto Markets | 1% TDS is applicable to both buying and selling transactions. |
How to Check TDS Deducted on WazirX?
You can check your TDS deductions through your Completed Order History or Trading Report.
| Method | What You Need to Do |
|---|---|
| Completed Order History | Open your Completed Order History and select a trade to view the TDS deducted for that transaction. |
| Trading Report | Download your Trading Report and check the Exchange Trades section for your TDS deduction history. |
How to Download Your TDS Trading Report?
| No. | What You Need to Do |
|---|---|
| 1 | Log in to your WazirX account. |
| 2 | Go to Account Settings > Download Reports. |
| 3 | Select Trading Report and choose your preferred date range. |
| 4 | Click Request Trading Report. |
| 5 | Download the report and check the Exchange Trades section for TDS details. |
Example: TDS on Crypto/INR Trades
Example: TDS on Crypto/Crypto Trades
In Crypto/Crypto transactions, TDS may be deducted in USDT. WazirX subsequently converts the deducted amount into INR and deposits it with the Income Tax Department.
Frequently Asked Questions
1. How can I check my TDS details on the Income Tax portal?
| No. | What You Need to Do |
|---|---|
| 1 | Visit the TRACES portal and log in using your PAN-linked account. If you are a new user, register first. |
| 2 | Go to View/Verify Tax Credit > View Form 26AS. |
| 3 | Select the relevant Assessment Year and click View/Download. |
| 4 | Look for Zanmai Labs Private Limited under the Name of Deductor to view TDS reported for your WazirX trades. |
2. What does "Total Amount Paid/Credited" mean in Form 26AS?
The Total Amount Paid/Credited under Zanmai Labs Private Limited represents the trading volume on WazirX for which TDS was deducted.
3. Why is my WazirX TDS not showing in Form 26AS?
TDS details may take approximately 45–60 days after the end of the financial quarter to reflect in your Form 26AS.
4. Does Form 26AS show my trading profit or loss?
No. Form 26AS shows the reported transactions and TDS details. It does not display your trading profit or loss.