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Which return file when tds deducted in sec. 194N salary person

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10 Points Posted on 11 August 2021
which return file when tds deducted in sec. 194N of salary person.
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On 11 August 2021 at 14:15 Report
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150 Points Posted on 11 August 2021
Sec 194N is applicable on banking co or cooperative society bank or post office, when any person withdraw cash exceeds 1 crore during the previous year either single or more than 2 transactions then they are deduct TDS in excess of 1 crore money @ 2%.
You should file itr 1 bcz u r a salary person.
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On 11 August 2021 at 14:34
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CMA
13117 Points Posted on 11 August 2021

If tax is deducted at source u/s 194n, then ITR 1 cannot be used. So ITR 2 probably.

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On 11 August 2021 at 14:39
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150 Points Posted on 11 August 2021
Yes, itr 1 is used whose income upto 50 lakhs, in excess 50 lakhs should file itr 2.
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On 11 August 2021 at 14:59
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Chartered Accountant
5010 Points Posted on 11 August 2021

Yes, I will agree with CA Purnima. If TDS has been deducted u/s 194N then ITR 1 cannot be filed by the taxpayer for salary income. Proceed with ITR 2

8 Reply
On 11 August 2021 at 15:12
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Chartered Accountant
24588 Points Posted on 11 August 2021
File ITR 2
129 Reply
On 11 August 2021 at 17:00


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