TDS on cash withdrawals to apply when annual cash withdrawals exceed a threshold, with specified institutional exemptions. Section 194N creates a TDS obligation on cash payments from a recipient's account by banks, cooperative banks and post offices when annual aggregate cash ... Summary
TDS on cash withdrawals to apply when annual cash withdrawals exceed a threshold, with specified institutional exemptions.
Section 194N creates a TDS obligation on cash payments from a recipient's account by banks, cooperative banks and post offices when annual aggregate cash withdrawals exceed a prescribed threshold, targeting reduction of cash transactions; specified institutional recipients are exempted, and the Central Government may notify further exemptions in consultation with the Reserve Bank of India, with a statutory commencement provision.
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