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of <h1>Govt exempts APMC traders from TDS on cash withdrawals over Rs. 1 crore u/s 194N for farmer payments.</h1> The Central Government, in consultation with the Reserve Bank of India, has issued a notification exempting commission agents or traders operating under the Agriculture Produce Market Committee (APMC) from Tax Deducted at Source (TDS) on cash withdrawals exceeding one crore rupees under section 194N of the Income-tax Act, 1961. This exemption applies if the agent or trader is registered with the APMC, has provided their account and PAN details to the financial institution, and certifies that the cash withdrawal is for payments to farmers for agricultural produce. The notification is effective from September 1, 2019.
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