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EXEMPTION UNDER SECTION 194N 2% TDS ON CASH WITHDRAWAL

TDS 549 views 1 replies

MY BUSINESS IS WESTERN UNION MONEY TRANSFER, XPRESS MONEY TRANSFER, WHITE LABLE ATM , EMITRA AND BANK BC , WHETHER I SHOULD OPEN SEPARATE ACCOUNT FOR EACH BUSINESS OR I CAN USE ONE ACCOUNT FOR ALL ABOVE BUSINESS TO GET EXEMPTION OF 2% TDS UNDER SECTION 194N,  BECAUSE ABOVE ALL BUSINESS IS EXEMPTED UNDER SECTION 194N. BANK REFUSE TO OPEN ANOTHER BANK ACCOUNT IN SAME BANK 

Replies (1)
When businesses are exempt from 194N, it's okay in one bank account.

But officially bank can not refuse to open one more bank account .


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