If you have been withdrawing large sums of cash from your bank then you can help you save some TDS on cash withdrawals from banks. The budget has reduced the threshold limit for TDS to Rs 20 lakh The cash withdrawal made by any taxpayer from the bank accounts. The new law on.
Related VideosTDS on Cash Withdrawal from Bank - Important Provisions - Section 194N [Hindi]🔥 It is hoped that withdrawal will not be deemed to be income of the recipient due to deduction of TDS cash withdrawal from bank tds the objective of promoting digital economy is achieved. The government had, in Budgetintroduced a TDS levy of 2 per cent on cash withdrawals of more than Rs 1 crore from a bank account in one financial year to discourage payments in cash. Tuesday 20 Oct Cash withdrawn from current account. File uploaded — Change file. In order to discourage cash transactions and move towards cash-less economy, a new Section N has been inserted under Income-tax Act with effect from September 1, to provide cash withdrawal from bank tds deduction of tax on cash withdrawals made by any person from his bank or post-office account. Select City.
: Cash withdrawal from bank tds
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