MyToken​.​ltd : 30% Arbitrary Tax Deduction is WRONG

MyToken​.​ltd : 30% Arbitrary Tax Deduction is WRONG

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Why this petition matters

Started by Vinayy Sharma

1% TDS only after 01-Apr-2022, I am responsible for paying my taxes to the Government of India. You cannot deduct 30% tax for me from me. You can only deduct 1% TDS from me only after 01-Apr-2022, not before that date and you need to have my PAN number for this purpose.

Moreover, 1% TDS is deductible only when I add money from my bank account directly to you or when I withdraw my money from you directly to my bank account, and not when I transfer USDT from MyToken to a crypto exchange or from another crypto exchange to MyToken. You cannot arbitrarily deduct & keep my money just because you have full control over my money. Your tax advisors and decision makers are wrong.

If you plan to register yourself in India, you would be liable to deduct only 1% TDS only from 01-Apr-2022 or from the date of your registration, whichever is later, and not from today, Sunday, 06-Mar-2022, 00:00 AM.

It is not 30% TDS.

Meanwhile, to be able to collect 1% TDS later, you can use this time to ask us to submit our PAN numbers in our respective MyToken accounts.

Please note that 30% tax and 1% TDS is applicable only from 01-Apr-2022, not before that date. You cannot start deducting any money from my MyToken account before that date, i.e. not from 06-Mar-2022, not even on 31-Mar-2022.

You are not Government of India.

You are not the Income Tax department of India.

You have no right to deduct 30% money from me in the name of tax.

You cannot deduct 30% of my transferable money in the name of TDS from me.

Please reverse your arbitrary wrong decision and get this corrected immediately.


45 have signed. Let’s get to 50!