TDS ON CASH WITHDRAWN - U/S 194N


This query is : Resolved 

Quick Summary
Section 194N of the Income Tax Act governs Tax Deducted at Source (TDS) on cash withdrawals. For private limited companies, TDS applies to cash withdrawals exceeding Rs 1 crore in a financial year, provided that the Income Tax Return (ITR) for the preceding three years has been filed. If the ITRs are not filed, the threshold for TDS is Rs 20 lakhs.

29 October 2020 Any changes in section 194 N wef 10th oct. 2020

30 October 2020 no, there is change.

30 October 2020 Sir,
TDS on cash withdrawn is applicable on cash withdrawn above Rs. 20 Lacs or Rs. 1 Cr. We are a Pvt. Ltd. Co. .

26 September 2021 above 1 Cr..... provided ITR of last 3 years filed..


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