“Although TDS is applicable from July 1, I do not think any of those provisions today are practically implementable. For example, today the onus of payment of deduction of TDS is on the buyer but typically in an exchange, the buyer never knows who the seller is and there is no clarity. There is TDS also on crypto to crypto swaps. But there is no clarity on how to value it and how you actually convert that transaction to Indian rupees.”
