SECTION 393(3) TAX ON CASH WITHDRAWAL
This query is : Resolved
Jyothy Preman
(Querist)
09 October 2026
AS PER SECTION 194N TDS DEDUCTED ON AMOUNT EXCEEDING THRESHHOLD LIMIT.
AS PER SECTION 393(3) WHETHER BANKS NEED TO DEDUCT TAX ON ENTIRE CASH WITHDRAWAL
INCLUDING THRESHHOLD LIMIT.Please provide notification or press releases regarding this if any
AS PER SECTION 393(3) WHETHER BANKS NEED TO DEDUCT TAX ON ENTIRE CASH WITHDRAWAL
INCLUDING THRESHHOLD LIMIT.Please provide notification or press releases regarding this if any
Dhirajlal Rambhia
(Expert)
09 October 2026
April 1, 2026, which replaces Section 194N), banks and financial institutions deduct TDS on the entire cumulative cash withdrawal amount once the threshold limit is breached, rather than only on the amount exceeding the threshold.
https://www.caclubindia.com/articles/tds-on-cash-withdrawals-2026-major-shift-in-deduction-rules-excess-vs-entire-amount-55876.asp
https://www.caclubindia.com/articles/tds-on-cash-withdrawals-2026-major-shift-in-deduction-rules-excess-vs-entire-amount-55876.asp
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