TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Finance Bill 2019 introduces 2% TDS on cash withdrawals over Rs. 1 crore to curb cash transactions. Effective Sept 1, 2019.</h1> A new section 194N is proposed in the Finance Bill 2019 to levy a 2% Tax Deducted at Source (TDS) on cash withdrawals exceeding one crore rupees in a year from accounts maintained by banking companies, cooperative banks, or post offices. This measure aims to reduce cash transactions and promote a less cash-dependent economy. Exemptions apply to transactions involving the government, banking entities, and certain businesses handling large cash volumes. The Central Government may grant additional exemptions in consultation with the Reserve Bank of India. This amendment is effective from September 1, 2019.
TaxTMI 
TaxTMI 