To discourage cash withdrawals from banks, post offices, TDS is introduced u/s 194N. Learn more on applicability, exceptions, tds rates due dates, tds returns. Section 194N is effective from 01st September 2019.
This document covers
The following persons are required to deduct TDS on the cash withdrawals exceeding Rs 1 crore during the financial year
TDS needs to be deducted at the time of payment of such sum
TDS deduction on cash withdrawal done by the following persons
TDS u/s 194N is not applicable on the payments made to
The due date for payment of TDS deducted u/s 194J is within 7 days from the end of the month in which deduction is made. However, for the March month, due date is April 30