If you have earned profits from cryptocurrency and TDS has been deducted on the same, you can follow the procedure mentioned below for the issuance of TDS certificate for crypto profits on Form 26AS.
The first step is to check your Form 26AS to verify if TDS has been deducted. Form 26AS is a consolidated statement of all the taxes deducted from your income and deposited with the government. You can access your Form 26AS through the income tax department's website or through your bank's net banking portal.
Once you have accessed your Form 26AS, verify if TDS has been deducted on your cryptocurrency profits. The TDS amount will be reflected under the TDS column in Form 26AS.
If TDS has been deducted on your cryptocurrency profits, the next step is to contact your payer to issue the TDS certificate. The TDS certificate will contain details of TDS deducted, deposited and any other relevant details.
Once you have received the TDS certificate, verify the details mentioned in the certificate. Ensure that the TDS amount and other details match with the details mentioned in Form 26AS.
It is important to keep records of the TDS certificate and Form 26AS for future reference. The documents will be required while filing your income tax return.
In conclusion, it is important to follow the procedure mentioned in this document for the issuance of TDS certificate for crypto profits on Form 26AS. Keeping records of the TDS certificate and Form 26AS will ensure compliance with the TDS provisions of the Income Tax Act, 1961.