Quarterly statement of tax w.r.t. virtual digital asset to be furnished by an exchange

The CBDT vide Notification No. 73/2022 dated June 30, 2022 has issued the Income-tax (Twenty Eighth Amendment), Rules, 2022 to further amend the Income-tax Act, 1961 (“the IT Act”) w.e.f. July 01, 2022, w.r.t. Exchange and Virtual Digital Asset (“VDA”), in the following manner:

A new Form No. 26QF has been introduced under the IT Rules w.r.t. quarterly statement of tax deposited in relation to transfer of VDA to be furnished by an exchange.
A new proviso has been inserted in Rule 31A(1) of the IT Rules, to provide that a quarterly statement of transactions in Form No. 26QF shall be delivered to the Principal Director General of Income-tax (Systems) or Director General of Income-tax (Systems) or the person authorised by them, where the exchange has agreed to pay tax in relation to a transaction of transfer of a VDA, owned by it as an alternative to tax required to be deducted by the buyer of such asset under Section 194S of the ,
New Rule 31A(4E) has been inserted w.r.t. the furnishing of particulars of account paid or credited on which tax was not deducted in accordance with guidelines issued, at the time of preparing of quarterly statement in Form No. 26QF by the exchange.

Source: Notification no.GSR. 482(E)