Cash withdrawal TDS exemption applies to government, banking entities, post offices, authorised business correspondents and white label ATM operators. Cash withdrawals otherwise subject to tax deduction at source under Section 393(3), Table Sl. No. 5 are exempt when paid to the Government, banking ... Summary
Cash withdrawal TDS exemption applies to government, banking entities, post offices, authorised business correspondents and white label ATM operators.
Cash withdrawals otherwise subject to tax deduction at source under Section 393(3), Table Sl. No. 5 are exempt when paid to the Government, banking companies, co-operative banking societies, or post offices. No deduction is also required for payments to Business Correspondents operating under Reserve Bank of India guidelines or to Reserve Bank of India-authorised White Label ATM Operators. This exemption corresponds to the specified cash-payment exemption under Section 194N of the Income-tax Act, 1961.
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