Student
3986 Points
Joined July 2018
1. TDS will be applicable on cash was withdrawn in excess of Rs. 1 crore in a bank during the FY by the assessee.
2. TDS u/s 194N @ 2% will be deducted in excess of Rs. 1 crore.
3. Yes, the money transfer business is also a business and sec 44AB will also be applicable for such business if it crosses the threshold limit during the year.
Please correct me if the above solution has an alternative view.