❗️TDS all Question & Answers ✅👇


Q1. I am trading on Indian exchanges, Should I deduct TDS?

- No. If trading on Indian exchanges all TDS compliance will be done by Indian exchanges.

The tax payer need not file any TDS forms.


Q2. I am doing P2P on Indian exchange, Should I deduct TDS?

- No. If trading on Indian exchanges all TDS compliance will be done by Indian exchanges.

The tax payer need not file any TDS forms.


Q3. I am doing P2P outside Indian exchanges (like Foreign exchanges or separately), Should I deduct TDS?

- Yes, you are required to deduct TDS and file TDS Forms.


Q4. I am doing trading on International exchanges or DEX (not P2P), Should I deduct TDS?

- Currently this is a grey area. There is no guidance from Income Tax Dept. on how TDS will work on DEX & Foreign exchanges.

Please consult your CA or Tax advisor to understand the risks.


Q5. How many TDS forms are there and which is applicable to Individuals?

- There are 2 TDS forms. 26Q & 26QE

A. Form 26Q is applicable if you have Business Income > 1 cr or Professional Income >50 L in FY 21-22.

If this forms applies to you, Please consult your CA for filing.
—B. Form 26QE is applicable if you
1. Don't have Business/Professional Income OR
2. You have business Income up to 1 cr or Professional Income >50L

This form is NOT yet available on Income tax portal for filing.

We will need to wait for clarity from ITD


Q6. What are the consequences of not deducting TDS?

- There are significant consequences like Penalties, Jail and also fines.

Please consult your CA or tax advisor before taking any decision :)
—-Update*

1. Penalty equal to TDS amount

2. Jail term is 3 months to 7 years and additional fine

tamilbtc.com/bityard

Market is unstable. Open new positions accordingly.

#Solana

It has formed a bearish channel and is at the support of $20.00-20.50. The continuation of negative news in the market will cause the support to fail and the price will reach 18$ .

signup.asia/bityard

Wall Street Fear & Greed Index: 73 (Greed)

BTC Weekly MA200

🔸Bitcoin (BTC) has recently reached the 200-day moving average (MA200), which is a significant technical indicator that traders often use to analyze the trend. This is the first time since August 2022 that BTC has encountered the MA200 as a resistance level.
🔸If the bulls are able to push BTC above this level, it could be seen as a bullish signal for the overall market. Breaking through this level could potentially lead to a macro bullish trend for BTC.

🔸This is the third most realized profit from Bitcoin short-term holders in over 5 years at the end of January. It's currently happening.

ADA analysis:

ADA is trading in the broadening channel and the price continues the uptrend. The support is $0.36-$0.37 area and this is the zone for new entries. The resistance is $0.41-$0.42 area and a break above this will send the price toward $0.49-$0.50 resistance.

The current demand for Inscription transactions has sent the Bitcoin Transaction Count Momentum to its highest level since Jan 2021.

The rapid ascent in Transaction Count reflects a significant increase in network activity, as demand for on-chain transactions begins to return.

FTM analysis:

FTM bounced from the daily candle support area. The major resistance is the $0.65-$0.68 area. If you have open long positions then increase your stop loss to the buying price. The local support is $0.45 and major support is $0.40 level.

useful link https://twitter.com/TamilBTC_/status/1632065424182620163

SNX analysis:

SNX is trading in a broadening channel. The major support is the $2.00-$2.05 area and the major resistance is the $3.50-$3.55 area. Wait for a test of the resistance zone and how prices reacts there for new positions.

Balaji is putting up a $2M bet that Bitcoin will be north of $1M in 90 days.

https://twitter.com/balajis/status/1636797265317867520

📍 Follow @tamil_btc for the hottest news in crypto.

Economic Events in 2023 So Far:

1. NYSE "glitch" halts 200+ stocks impacting over $1 trillion in trade volume

2. 2nd and 3rd largest bank collapses in U.S. history

3. Housing market falling at fastest pace since 2011

4. Chinese spy balloon shot down over U.S.

5. Credit card debt hits record $985 billion

6. U.S. NOTAM system goes down grounding all flights

7. CPI inflation formula changed for first time in years

8. Corporate earnings decline for the first time since 2020

9. Mortgage rates hit 7.1% sending mortgage demand to lowest since 1993

10. Nearly 200,000 people have been laid off in tech

We are not even 3 months into 2023 and multiple historic events have already occurred.

2023 will be a historic year.

📍 Follow @tamil_btc for the hottest news in crypto.

$PEOPLE just brokeout of the wedge.

Price should be around 0.03 this weekend 🚀

signup.asia/bityard

With #Bitcoin  jumping above $27k for the first time since June 12th, there are 2.4x as many profit transactions as loss transactions on the $BTC network since Wednesday. Markets are very polarized with #FOMO and drop fears both happening simultaneously.

TFUEL analysis:

TFUEL is trading near the resistance area. If the price is able to break the $0.0617 level then we see a move toward the $0.07 resistance area. Wait for a breakout above the resistance area or a test of the support zone.

பிட்காயின்.com

ZEN Analysis:

Price is moving in a tight range of $9.50-$11.40 area. This is no trade for ZEN and we may see a breakout of this range very soon. The next resistance is $12.50 and we will see a move toward this resistance if the price breaks above the $11.40 level. The next support is the $8.50 level.