The Central Board of Direct Taxes vide notification dated 21st June, 2022 has issued Income-tax (19th Amendment) Rules, 2022. Every specified person responsible for deduction of tax at source @1% on the payment of purchase consideration to a resident person, on transfer of a virtual digital asset under section 194S shall furnish to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorized by the Principal Director General of Income-tax (Systems) or the Director General of Income tax (Systems), a challan-cum-statement in Form No. 26QE electronically within thirty days from the end of the month in which the deduction is made.
They shall also furnish the certificate of deduction of tax at source in Form No.16E to the payee within fifteen days from the due date for furnishing the challan-cum-statement in Form No.26QE under rule 31A after generating and downloading the same from the web portal specified by the Principal Director General of Income-tax (Systems) or the Director General of Income-tax (Systems) or the person authorized by him.
