Giottus FAQ | Account, KYC, Trading & Support Guide

Tax & Compliance

How is TDS deducted in India?

In India, Tax Deducted at Source (TDS) on cryptocurrency transactions is governed by Section 194S of the Income Tax Act, introduced in the Finance Act 2022, effective from July 1, 2022.

1% on the total transaction value of Virtual Digital Assets (VDAs), including cryptocurrencies.


How do I download my tax reports?

In Giottus, financial year taxation is divided into four quarters; after every quarter, 

Giottus provides Form No. 16A to Customer registered mail from info@giottus.com.


Is Giottus FIU-registered in India?

Yes, Giottus is registered with FIU India.

What regulations govern your operations?

Crypto operations in India are governed by a mix of regulatory bodies and laws. There is no exclusive regulatory authority for crypto as of now. 


How do you comply with RBI/SEBI directives?

Indian crypto exchanges comply with RBI directives by adhering to KYC/AML norms, registering with FIU-IND, following tax regulations like TDS on transactions, and implementing robust compliance frameworks. Giottus complies with all existing laws applicable in India. 


What about GST on trading fees?

Fees applies on order execution (18% GST on fees is applicable)

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