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TDS us 194N


Tds deducted u/s 194N but this not my income, at the time of bifurcation of tds under which head it will be shown?
If I choose other sources then it will be taxed and 2nd option is exempt income.
Should I proceed with exempt income

Dear Satyam
TDS u/s 194N will be deducted on cash withdrawal above a certain limit. Unlike other TDS provisions, it is not TDS on any income. Therefore question about showing it as income from other sources and then showing it as exempt income does not arise.

Dear Sir, at the time of ITR while filling schedule TDS 2(1) tds other than TDS on salary: we have to choose"Head of Income" and which is mandatory then which head should I choose for TDS 194N?

Dear Satyam, I think such issue will be addressed in the ITR forms for AY 2021-22 i.e when you file the return in July 2021.

Dear Raj Sir, this is applicable for AY 2020-21. there is an amendment that is applicable from 1st july2020.



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