194 N CASH WITHDRAWAL
This query is : Resolved
Quick Summary
24 December 2020
A person filed Return of income for AY 2018-19, AY 2019-20 & AY 2020-21.
Whether 194 N threshold limit of 20 Lakh applicable to him in the financial year 2020-21 ?
TDS on cash withdrawal above 20 lakhs applicable to him ?
Whether 194 N threshold limit of 20 Lakh applicable to him in the financial year 2020-21 ?
TDS on cash withdrawal above 20 lakhs applicable to him ?
24 December 2020
It's cash withdrawal above 1 crore not 20 lacs.
26 December 2020
Sir,
There is an amendment that recipient who has not file the returns of income for all the three assessment years the limit should be 20 Lakhs for applicability of 194 N.
so my doubt is if a person filed returns for AY 2018-19, AY 2019-20 & AY 2020-21 he will be get the benefit of 1 Crore ?
There is an amendment that recipient who has not file the returns of income for all the three assessment years the limit should be 20 Lakhs for applicability of 194 N.
so my doubt is if a person filed returns for AY 2018-19, AY 2019-20 & AY 2020-21 he will be get the benefit of 1 Crore ?
26 December 2020
Yes, the benefit of 1 crore available for those who filed the ITR.
26 December 2020
He has file ITR for AY 2018-19,AY 2019-20 & AY 2020-21.
But bank is saying for getting benefit in Financial year 2020-21 he has o file AY 2017-18, AY 2018-19 & AY 2019-20. Is it correct ?
But bank is saying for getting benefit in Financial year 2020-21 he has o file AY 2017-18, AY 2018-19 & AY 2019-20. Is it correct ?
26 December 2020
Yes, it's right...................................
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation of fixed assets- coop housing society in mumbai
- Reopen of assessment proceeding
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS on Consultancy- Non DTAA
- DIN reactivation
- Rental income gst and it purpose
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Eway bill generation from place other than registeted
- GST rate and HSN code for sale of racing horses
- EPF FULL & FINAL RULES IN 2026
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
