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Tds on crypto currency

306 views 2 replies

prince verma

audit trainee

124 Points Posted on 05 May 2026

I have swapped my xrp crypto with another crypto through singapore based crypto exchange. The amount involved is rs. 125000/-.

I want to deposit tds. But as singapore based exchnage do not have pan no. Pls guide how to deposit tds and what percentage it should be deducted and deposited ?

Replies (2)

Quick Summary

TDS under Section 194S generally does not apply on crypto swaps through a foreign exchange without Indian PAN. Such transactions must be reported as Virtual Digital Assets in ITR, and gains are taxable at 30% under Section 115BBH without deduction of expenses.

Aashok FC Advisory

Finance Compliance Consultant

925 Points Posted on 05 May 2026

Commode chair (for patients/elderly) → HSN 9402, GST 12%
If general furniture → HSN 9401, GST 18%
Classification depends on usage and design, not just name

Tax Garden

Tax Consultant

516 Points Posted on 21 May 2026

Under Section 194S, TDS on crypto swaps applies when the payer is resident in India and the exchange has an Indian PAN. For a Singapore-based foreign exchange with no Indian PAN, the at-source deduction mechanism does not apply. Your obligation shifts to declaring the gains as a Virtual Digital Asset under Section 115BBH in your ITR and paying 30% flat tax, with no expense deductions allowed. Given how fact-specific cross-border VDA transactions are, it is worth getting a clear answer before filing: the team at [Tax Garden](https://taxgarden.in/services) handles VDA taxation and ITR compliance.