Income Tax Due Date Alert: File Form 26QF for April–June 2025 Quarter

As the financial year progresses, it’s important for businesses and financial entities dealing in virtual digital assets (VDAs) to stay updated on their tax compliance obligations. One such key requirement is the timely filing of Form 26QF under Section 194S of the Income Tax Act.

🗓️ Quarter: April – June 2025

🧾 Due Date: 31st July 2025

🔍 What is Form 26QF?

Form 26QF is a quarterly statement required to be filed by exchanges or intermediaries facilitating the transfer of Virtual Digital Assets (VDAs) such as cryptocurrencies, NFTs, and similar digital tokens. It pertains specifically to taxes deducted and deposited under Section 194S of the Income Tax Act.

Section 194S mandates Tax Deducted at Source (TDS) at 1% on the transfer of VDAs, applicable from July 1, 2022. The responsibility of deduction and filing rests with the exchange if it facilitates the transaction.

🧾 Who Must File Form 26QF?

  • Cryptocurrency exchanges

  • NFT marketplaces

  • VDA facilitators handling financial settlements

  • Any digital platform processing VDA transfers where tax is deducted under Section 194S

⚠️ Why Timely Filing Matters

Failing to file Form 26QF on time can lead to:

  • Late filing penalties

  • Interest on late payments

  • Compliance issues during assessment

  • Loss of reputation with regulatory bodies

✅ What Should Be Reported?

The form should include:

  • PAN of both buyer and seller

  • Details of the VDA transferred

  • Transaction value

  • Amount of tax deducted and deposited

  • Date of transfer and tax payment

📌 Key Points to Remember

  • Due Date: 31st July 2025 for Q1 (April–June)

  • Section: 194S (VDA Transactions)

  • Form: 26QF – Quarterly TDS Statement for VDA transfers

  • Mode of Filing: Through TRACES portal or as guided by the Income Tax Department

💼 Let Taxla Services Handle Your Filing

Navigating the tax obligations for VDAs can be complex. At Taxla Services, we ensure:

  • Accurate and timely filing of Form 26QF

  • End-to-end support for VDA tax compliance

  • Expert handling of crypto tax regulations

🕒 Don’t wait till the last moment! Let professionals manage your filings while you focus on growing your digital asset business.

📞 Contact Us Today

📱 +91 7305701454
📧 auditsiva2@gmail.com
🌐 www.taxlaservices.com

📣 Stay Informed. Stay Compliant. Stay Ahead.

#Form26QF #IncomeTaxIndia #VirtualAssetsTax #CryptoCompliance
#DigitalAssetTax #Section194S #TaxlaServices #IncomeTaxUpdate
#BestAuditorInTamilnadu #FileOnTime #QuarterlyReturn #VDA



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