According to the latest updates how much Tax Deduction at Source(TDS) will be deducted on cash withdrawals of over Rs 1 crore from September 1, 2019?

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According to the latest updates how much Tax Deduction at Source(TDS) will be deducted on cash withdrawals of over Rs 1 crore from September 1, 2019?

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Íśħăń Śăŕĸăŕ · Answer 1 · 2021-11-27T11:17:44+0000

Rate of TDS under Section 194N The payer will have to deduct TDS at the rate of 2% on the cash payments/withdrawals of more than Rs 1 crore in a financial year under Section 194N.

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According to the latest updates how much Tax Deduction at Source(TDS) will be deducted on cash withdrawals of over Rs 1 crore from September 1, 2019?

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Take a look at the rules carefully :

N.B: If you do not follow the rules, it will be difficult to get payment

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