194S TDS deductions for purchase of VDA per party or not

Dear Sir, 

We understand that the threshold limit for specified person for purchasing Virtual Digital Assets is Rs 50,000 per financial year. Above Rs 50,000 we have to deduct tds while buying VDA. 

Kindly clarify whether the threshold limit is applicable as a whole or is applicable as per deal with each party. 

For example in the case of specified person, if we buy VDA from 5 different parties of Rs 20,000 from each party. Then total amount would be 1 Lakh but per party per financial year it would be Rs 20,000 so in this case do we deduct TDS or not. 

 

Kindly advise. 

 

Regards

Vinny 

Replies (1)

No. Its deal per party in any FY (from 1.7.2022 for current FY)

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
Featured 18 July 2026
Senior Manager- Finance & Accounts

apricus india

Ahmedabad

CA

View Details
Company
28 July 2026
Senior accountant

RJ Public School

Bengaluru

B.Com

View Details
Company
16 July 2026
Manager - Finance & Accounts

Aliens Group

Hyderabad

CA Final

View Details
Company
ARTICLESHIP 07 July 2026
Articleship

Jawahar and Associates Chartered Accountants

Hyderabad

CA Inter

View Details
Company
Featured 16 July 2026
Semi Qualified Company Secretary

Vakilsearch.com

Chennai

CS

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Company
23 July 2026
Senior Accountant

Felicity Adobe LLP

Bengaluru

CA Inter

View Details
Follow