TDS ON CASH WITHDRAWN - U/S 194N

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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.

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(Querist)
29 October 2020 Any changes in section 194 N wef 10th oct. 2020
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Rupesh Jain

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Rupesh Jain (Expert)
30 October 2020 no, there is change.
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ANIL MATHUR

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ANIL MATHUR (Querist)
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TDS on cash withdrawn is applicable on cash withdrawn above Rs. 20 Lacs or Rs. 1 Cr.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. .
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
26 September 2021 above 1 Cr..... provided ITR of last 3 years filed..
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