CryptoShatabdi Blog

Important Notice: TDS Filing Issue for Bitcoin Purchases on CryptoShatabdi

We hope this message finds you well. We are reaching out to inform you of an important matter concerning the TDS (Tax Deducted at Source) filing for transactions on CryptoShatabdi.

As per Indian regulations, we have been diligently deducting 1% TDS for all trades conducted on our platform. We want to assure you that for users selling Bitcoins, the TDS has been correctly deducted, deposited, and reflected on the income tax website.


However, we have encountered issues with the TDS filing process for users purchasing Bitcoins on our platform. Due to a discrepancy in the filing process, the data submitted has been incorrect. We sincerely apologize for any inconvenience this may have caused.


Next Steps:

  1. File Your Income Tax Return: As today is the last date for filing income tax returns, we urge all affected users to file their returns to meet the deadline.
  2. Await Further Communication: If your return is rejected, you will be required to provide a justification. We are committed to ensuring that any errors in the data are rectified and that your AIS (Annual Information Statement) is updated correctly before the deadline for submitting the justification report.
  3. Corrections and Resolution: Our team, along with our Chartered Accountant (CA), is working diligently to correct these errors. We aim to have all issues resolved within the next 10 days.


Please understand that this situation is beyond our control, and we are doing everything possible to prevent such issues from occurring in the future. We are implementing new processes to ensure the accuracy of all TDS filings moving forward.


We appreciate your understanding and patience. Should you have any questions or concerns, please do not hesitate to reach out to our support team.


Thank you for your cooperation.

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