KuCoin India to Implement 1% TDS on Crypto Transfers

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.