Section 194N:TDS on cash withdrawal
Introduction of Section 194N Section 194N of the Income Tax Act, 1961 (Act) was introduced in the Union Budget 2019 presented by Finance Minister Nirmala Sitharaman. This section discourages cash transactions and paves the way for the country a step towards Digital India. Withdrawals from bank accounts impose TDS after certain threshold limits. Applicability Sec […]
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