Income Tax Department Rectifies Gaffe, "Restores" 1% TDS On Virtual Assets After "Reduction"

In a confusion of sorts, the income tax department portal on Wednesday updated its document on tax deductible at source (TDS), reiterating that TDS on virtual digital assets remains at 1 per cent, as stated in the Union Budget for 2022-23, after it had earlier mentioned that the rate had been dropped to 0.1 per cent.