My bank deducted TDS on cash withdrawals exceeding Rs.20 lacs during last year( I had filed ITRs for the last 3 years, but neither the bank demanded nor I provided them copies of the returns). The amount exceeding Rs.20 lacs has been clsssifed as cash withdrawals in TIS and AIS and shown u/s 194N therein, but has been shown under Sec 194NF in stead in Form 26AS. Now IT department has served me notice to show this as income in my ITR. How to get the amount corrected as cash withdrawals u/s 194N in stead of as income u/s 194NF.
CAclubindia
