Document text
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 30th June, 2022
INCOME-TAX
G.S.R. 482(E).—In exercise of the powers conferred by section 295 read with section 194S of the
Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes, hereby, makes the following rules
further to amend the Income-tax Rules, 1962, namely:-
1.
Short title and commencement.–– (1) These rules may be called the Income-tax (20th Amendment)
Rules, 2022.
(2)
They shall come into force from 1st day of July, 2022.
2.
In the Income-tax Rules, 1962 (hereinafter referred to as the principal rules), in rule 31A, ––
(i)
after sub-rule (1), the following shall be inserted, namely:-
“Provided that where the exchange has, in accordance with the guidelines issued under sub-section (6) of
section 194S, agreed to pay tax in relation to a transaction of transfer of a virtual digital asset, owned by it
as an alternative to tax required to be deducted by the buyer of such asset under section 194S, the
Exchange shall deliver or cause to be delivered, a quarterly statement of such transactions in Form No.
26QF to the Principal Director General of Income-tax (Systems) or Director General of Income-tax
(Systems) or the person authorised by the Principal Director General of Income-tax (Systems) or the
Director General of Income-tax (Systems).
Explanation: For the purposes of this sub-rule,––
(i) “Exchange” means a person that operates an application or platform for transferring of virtual
digital assets, which matches buy and sell trades and execute the same on their application or
platform;
(ii) “virtual digital asset” shall have same meaning as assigned to it in clause (47A) of section 2.”
(ii)
after sub-rule (4D), the following sub-rule shall be inserted, namely,––
“(4E) The exchange referred to sub-rule (1) shall, at the time of preparing of quarterly statement in Form
No. 26QF, furnish particulars of account paid or credited on which tax was not deducted in accordance
with guidelines issued under sub-section (6) of section 194S.”.
4
THE GAZETTE OF INDIA : EXTRAORDINARY
[PART II—SEC. 3(i)]
3.
In the principal rules, in Appendix II, after Form No. 26QE, the following Form shall be inserted,
namely:–
“Form No. 26QF
Quarterly statement of tax deposited in relation to transfer of virtual digital asset under
section 194S to be furnished by an exchange for the quarter ending ………. June/
September/ December/ March
[section 194S, rule 31A(1) and (4E)]
1. Name of the Exchange
:
2. Address of the Exchange
:
3. PAN
:
4. Financial year
:
5. Details of transactions
:
(A) Details of tax pain with respect of transactions referred to in proviso to sub-rule (1) of
rule 31A:
S.
No.
Name of
buyer/broker
Address
of
buyer/
broker
PAN of
buyer/broker
Date of
transaction
Value of
VDA bought
by
buyer/broker
No. of
VDA
bought
by
buyer/
broker
Total
consideration
1% of total
consideration
Reflected
in tax
payment
made on
(date of
tax
payment )
Challan details
BSR
code
of
bank
branch
Amount
paid (in
Rs.)
Challan
serial
number
1.
2.
3.
(B) Details of transactions on which tax was not deducted in accordance with the guidelines
issues under sub-section (6) of section 194S
S.
No.
Name of
broker
Address of
broker
PAN of
broker
TAN of
broker
Date of
transaction
Value of VDA
bought by
buyer
No. of VDA
bought by
buyer
Total consideration
paid/ credited
1
2
3
Verification
I ……………………, in my capacity as ………………………… of ………………………… do
hereby certify that the information produced above is correct and complete.
Place: ...............................
Signature of the person
Date: ..............................
Name and designation.”.
[Notification No. 73/2022/F. No. 370142/29/2022-TPL (Part-I)]
ANKIT JAIN, Under Secy.
Note : The principal rules were published in the Gazette of India, Extraordinary, Part-II, Section 3, Sub-
section (ii) vide notification number S.O. 969 (E), dated the 26th March, 1962 and was last
amended vide notification number G.S.R. 463(E) dated 21.06.2022.
Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.
