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uday23775@gmail.com   14 June 2021

Sec. 194N

A person who regularly files ITR on time. The same person withdraw amount from his account more than 20 lakh but less than 1 crore. Is the bank deduct TDS despite regular return filing?

 6 Replies

CMA Poornima Madhava

CMA Poornima Madhava (CMA)     14 June 2021

No, 194N is not applicable in this case.

1 Like

uday23775@gmail.com   14 June 2021

Manikanta juluri

Manikanta juluri (Student)     15 June 2021

No, TDS not applicable
Sivaramaraju G

Sivaramaraju G (Learner)     15 June 2021

Bank can't deduct TDS u/s 194N.

Sourav (Student)     15 June 2021

No TDS is not applicable
shrawan choudhary

shrawan choudhary   15 June 2021

No. TDS is not applicable since amount is not exceeding 1 cr

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