The rules governing the imposition of 1% TDS on the transfer of virtual digital assets (VDAs) of more than ₹10,000 has come into effect from today. All cryptocurrencies and NFTs, except tangible asset-backed NFTs, will be subject to TDS deduction. Further, the government has clarified that gift cards or vouchers, mileage points, reward points, and website subscriptions are not VDAs.