{"id":1154,"date":"2025-06-05T21:31:40","date_gmt":"2025-06-05T16:01:40","guid":{"rendered":"https:\/\/www.caclubindia.com\/guide\/?p=1154"},"modified":"2025-06-26T15:54:33","modified_gmt":"2025-06-26T10:24:33","slug":"194s-tds","status":"publish","type":"post","link":"https:\/\/www.caclubindia.com\/guide\/194s-tds\/","title":{"rendered":"194S TDS Rates on Cryptocurrency and Digital Assets"},"content":{"rendered":"\n<p>194S TDS is applicable on the payment for the transfer of Virtual Digital Assets (which include cryptocurrencies and non-fungible tokens).<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\r\n<div class=\"ez-toc-title-container\">\r\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\r\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\r\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Who_will_be_the_Deductor_and_Deductee\" >Who will be the Deductor and Deductee?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Rate_of_194S_TDS\" >Rate of 194S TDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Exemption_from_194S_TDS\" >Exemption from 194S TDS<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#How_to_deposit_of_TDS\" >How to deposit of TDS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Consequences_on_Failure_to_DeductDeposit_TDS\" >Consequences on Failure to Deduct\/Deposit TDS<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Interest\" >Interest<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Penalties_and_Prosecution\" >Penalties and Prosecution<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Failure_to_Furnish_TDS_Statement\" >Failure to Furnish TDS Statement:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.caclubindia.com\/guide\/194s-tds\/#Failure_to_Issue_TDS_Certificate\" >Failure to Issue TDS Certificate:<\/a><\/li><\/ul><\/nav><\/div>\r\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Who_will_be_the_Deductor_and_Deductee\"><\/span>Who will be the Deductor and Deductee?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Deductor<\/strong><\/td><td><strong>Deductee<\/strong><\/td><\/tr><tr><td>Any person who is responsible for paying to any resident any sum by way of consideration for the transfer of a virtual digital asset is required to deduct TDS u\/s 194S.<\/td><td>Tax required to be deducted if the amount is paid or payable to a resident person if the recipient of the consideration is a non- resident, the tax may be deductible u\/s 195.<br><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Rate_of_194S_TDS\"><\/span>Rate of 194S TDS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>1% TDS on the transfer of crypto assets.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If no PAN then TDS at 20% as per Section 206AA<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>For non-filing of return, TDS at 1% (for specified payer) or 5% (for non-specified payer) as per the Section 206AB.<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"896\" height=\"547\" src=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/12\/specified-person.png\" alt=\"\" class=\"wp-image-1155\" srcset=\"https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/12\/specified-person.png 896w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/12\/specified-person-300x183.png 300w, https:\/\/www.caclubindia.com\/guide\/wp-content\/uploads\/2024\/12\/specified-person-768x469.png 768w\" sizes=\"auto, (max-width: 896px) 100vw, 896px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Exemption_from_194S_TDS\"><\/span>Exemption from 194S TDS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If consideration is payable by any person (other than specified person) and its aggregate value does not exceed Rs. 10,000 during the financial year.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>If consideration is payable by any person (other than specified person) and its aggregate value does not exceed Rs. 50,000 during the financial year.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"How_to_deposit_of_TDS\"><\/span>How to deposit of TDS?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Specified Persons is required to deposit TDS via Form 26QE within 30 days of the month&#8217;s end.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Others can deposit via Challan ITNS 281 within 7 days of the month&#8217;s end (March TDS by April 30).<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Category<\/strong><\/td><td><strong>Filing of TDS Statement<\/strong><\/td><td><strong>TDS Certificate<\/strong><\/td><\/tr><tr><td>Specified Persons<\/td><td>File Form 26QE<\/td><td>Issue Form 16E within 15 days of filing Form 26QE.<\/td><\/tr><tr><td>Others<\/td><td>File Form 26Q quarterly<\/td><td>Issue Form 16A within 15 days of filing Form 26Q.<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Consequences_on_Failure_to_DeductDeposit_TDS\"><\/span>Consequences on Failure to Deduct\/Deposit TDS<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Interest\"><\/span>Interest<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>For non-deduction: <\/strong>1% per month from due date till deduction.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>For non-deposit: <\/strong>1.5% per month from deduction date till deposit.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Penalties_and_Prosecution\"><\/span>Penalties and Prosecution<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Penalty u\/s 271C or 221.<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Prosecution u\/s 276B for non-deposit, unless reasonable cause is proven.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Failure_to_Furnish_TDS_Statement\"><\/span>Failure to Furnish TDS Statement:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Fee:<\/strong> Rs.200\/day under Section 234E (capped at TDS amount).<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Penalty: <\/strong>Rs.10,000 to Rs.100,000 under Section 271H, or Rs.500\/day under Section 272A.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Failure_to_Issue_TDS_Certificate\"><\/span>Failure to Issue TDS Certificate:<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Penalty applicable to Rs.500\/day u\/s 272A during default period.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.caclubindia.com\/guide\/cryptocurrency-taxation-in-india\/\">Click Here<\/a> To Know &#8211; Cryptocurrency Taxation in India<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>194S TDS is applicable on the payment for the transfer of Virtual Digital Assets (which include cryptocurrencies and non-fungible tokens). [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1156,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-income-tax"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\r\n<title>194S TDS Rates on Cryptocurrency and Digital Assets - Tax Guide<\/title>\r\n<meta name=\"description\" content=\"194S TDS applies when a person transfers VDAs. 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