Government of India has inserted section 194N in the Income Tax Act, 1961, through Finance Act (No. 2) 2019 for deduction of TDS @2% on cash withdrawals in excess of Rs. 1 crore in a year, from 01.09.2019, and the new provision mentioned in section 194N is applicable from the financial year 2019-20.
An SB order no. 02/2020 regarding deduction of TDS in respect of cash withdrawal above Rs. 1 crore by an account holder of National Saving Schemes has been issued on dated 09.01.2020. This order contained necessary information about this issue and departmental guideline to follow this in Finacle system.
Order in PDF form download here
An SB order no. 02/2020 regarding deduction of TDS in respect of cash withdrawal above Rs. 1 crore by an account holder of National Saving Schemes has been issued on dated 09.01.2020. This order contained necessary information about this issue and departmental guideline to follow this in Finacle system.
Order in PDF form download here
No comments:
Post a Comment