TDS on Cash Withdrawal

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Student CA Final
114 Points Posted on 06 July 2020
Can an assessee claim TDS deducted by bank on cash withdrawal against his tax liability (whether Credit can be claimed on not)?
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On 06 July 2020 at 18:21 Report
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Yes, you can claim Tax Deducted at Source (TDS) on cash withdrawals made from your bank account, provided your PAN is updated with the bank. This TDS deduction is a government measure to track cash transactions and is claimable against your tax liability, regardless of the income source. The threshold for this deduction is typically Rs. 1 crore for an assessee.

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2 Points Posted on 06 July 2020
Yes. if PAN is updated at Bank Account. then whatever TDS deducted, may be in cash withdrawl and By IT Return submission, the TDS CAN BE CLAIMED.
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On 06 July 2020 at 18:57
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Practice
4510 Points Posted on 06 July 2020
Originally posted by : Himanshu
Can an assessee claim TDS deducted by bank on cash withdrawal against his tax liability (whether Credit can be claimed on not)?

Yes He can Claimed TDS on Cash withdrawal its not related to Income 

This is Govt. tool to track Cash Transaction  

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On 06 July 2020 at 20:06
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Profession
28267 Points Posted on 07 July 2020
The limit is Rs. 1 crore for an assesse.
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On 07 July 2020 at 12:51

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