Ay 20-21
This query is : Resolved
TARIQUE RIZVI
(Querist)
17 October 2019
Respected Sir
Whether there is TDS on cash drawing also ?
What is the limit of cash drawing fully exempted from tds ?
Whether such TDS is refundable ?
Please guide me and oblige.
Whether there is TDS on cash drawing also ?
What is the limit of cash drawing fully exempted from tds ?
Whether such TDS is refundable ?
Please guide me and oblige.
18 October 2019
Union Budget 2019 a new section - 194N is inserted in Income Tax Act, 1961, to further discourage cash transactions, which provides levy of TDS at the rate of 2% on cash withdrawal in excess of Rs.1 crore in aggregate during the year. The new section is effective from 1st Sep, 2019.
Union Budget 2019 a new section - 194N is inserted in Income Tax Act, 1961, to further discourage cash transactions, which provides levy of TDS at the rate of 2% on cash withdrawal in excess of Rs.1 crore in aggregate during the year. The new section is effective from 1st Sep, 2019.
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