Friday, August 30, 2019

Cash Withdrawals over Rs 1 cr to attract 2% TDS from Sep 1: CBDT

The Central Board of Direct Taxes ( CBDT ) has issued Clarification on applicability of Tax Deduction at Source ( TDS ) on cash withdrawals. In order to discourage cash transactions and move towards less cash economy, the Finance (No. 2) Act, 2019 has inserted a new Section 194N of the Income Tax Act, 1961, […]

The post Cash Withdrawals over Rs 1 cr to attract 2% TDS from Sep 1: CBDT appeared first on Taxscan | Simplifying Tax Laws.



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