TDS under section 194N - Latest changes

Ramachandra , Last updated: 06 July 2020 Share Follow on Google News

The Govt.of India through Finance Act 2019 had introduced a new section 194N in the Income Tax Act 1961, to provide for levy of Tax Deduction at Source (TDS) @ 2% on Cash payments in excess of One Crore Rupees in aggregate made during the year, by a Banking Company or cooperative Bank or post office

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About the Author

Ramachandra

Practicing Chartered Accountant

Experienced Founding Principal with a demonstrated history of working in the financial services industry. Skilled in Cash Flow, Budgeting, Direct and Indirect Taxation, Business Planning andAudit. Strong entrepreneurship professional practicing from past few years.

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