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Section 194N

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TDS on Cash Withdrawals: Understanding Section 194N

Income Tax : Uncover the impact of Section 194N of the Income Tax Act on TDS for cash withdrawals over certain limits, aiming to reduce tax eva...

February 26, 2024 1758 Views 0 comment Print

Overview of Section 194N & Recent Landmark Judgments of Madras HC

Income Tax : TDS on Cash Withdrawals - Section 194N of Income Tax Act, 1961: Section 194N provides that every banking company, cooperative bank...

December 25, 2023 5205 Views 0 comment Print

Understanding TDS on Cash Withdrawals: A Comprehensive Guide

Income Tax : Dive into the details of TDS on cash withdrawals under Section 194N. Learn about who needs to deduct tax, rates, exemptions, and m...

November 1, 2023 13074 Views 0 comment Print

TDS on Cash Withdrawals

Income Tax : TDS on Cash Withdraw Understand TDS on Cash Withdrawals with insights on applicability, rates, and exemptions. Section 194N mandat...

September 2, 2023 2466 Views 0 comment Print

TDS Rate Chart for FY 2023-24 / AY 2024-25 – Updated

Income Tax : Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Ea...

July 25, 2023 50928 Views 4 comments Print


Latest News


Govt not intends to withdraw TDS under section 194N

Income Tax : The financial implementation of deduction of tax under section 194N of the Income-tax Act, 1961 in case of primary cooperative soc...

March 29, 2022 525 Views 0 comment Print

Raj HC issued notice on constitutional validity of Section 194N

Income Tax : The Rajasthan High Court, Jaipur in the matter of, Abhay Singla v. Union of India, has recently issued notice in a public interest...

March 28, 2022 1626 Views 0 comment Print

New feature in income tax portal – “Check the TDS rate applicability u/s 194N”

Income Tax : As per Sec 194N of the income tax act, TDS is to be made -@ 2% if the aggregate cash withdrawal/s exceeds 1 crore – where th...

December 14, 2020 12150 Views 7 comments Print

Additional 15% depreciation on Motor Vehicles- No TDS on cash payments by APMCs

Income Tax : Addressing the concerns raised by Agriculture Produce Market Committees (APMCs), it has been decided not to levy the 2% TDS on cas...

September 18, 2019 7524 Views 1 comment Print


Latest Judiciary


Madras HC dismisses Writ Petitions, maintaining statutory mandate of Section 194N

Income Tax : Explore Madras High Court's judgment on primary agricultural credit cooperative societies challenging Circulars related to tax ded...

December 26, 2023 3651 Views 0 comment Print

Madras HC Upholds Section 194N, Dismisses Challenges to Circulars by Co-op Banks

Income Tax : Explore the Madras High Court's judgment on Primary Agricultural Cooperative Credit Societies challenging Circulars related to tax...

December 26, 2023 387 Views 0 comment Print

Circulars mandating compliance of section 194A & 194N by co-op societies cannot be challenged under Article 226

Income Tax : Madras High Court held that circulars dated 16.03.2021, 05.08.2021 and 01.04.2021 mandating compliance of provisions of section 19...

December 25, 2023 510 Views 0 comment Print

HC direct Center to consider exempting Primary Agricultural Cooperative Credit Societies from Section 194N purview

Corporate Law : Madras High Court directed the Ministry of Finance, Government of India and CBDT to consider exempting primary agricultural cooper...

August 7, 2023 678 Views 0 comment Print

Constitutional validity & legality of section 194N challenged before Calcutta HC

Income Tax : Tyroon Tea Company Limited & Anr. Vs Union of India Ors. (Calcutta High Court) In this writ petition, petitioners have challen...

December 15, 2021 6294 Views 0 comment Print


Latest Notifications


TDS on Cash Withdrawal above Rs. 20 lakh

Income Tax : Deduction of TDS in respect of aggregate Cash Withdrawal above Rs. 20 lakh by an account holder of National (Small) Savings Scheme...

March 9, 2021 35235 Views 1 comment Print

CBDT clarifies on Validly of section 194N exemptions

Income Tax : CBDT clarifies that three Section 194N exemption notifications shall be deemed to be issued under fourth proviso to section 194N a...

July 20, 2020 21423 Views 2 comments Print

CBDT provides Utility to ascertain TDS Applicability Rates on Cash Withdrawals

Income Tax : Income Tax Department has facilitated a new functionality for Banks and Post offices through which they can ascertain the TDS appl...

July 12, 2020 6420 Views 1 comment Print

TDS | Cash Withdrawal above Rs. 1 Crore | National Savings Schemes

Finance : Now TDS @2% under section 194N will be applicable on all cash withdrawals above Rs. One Crore taken by an account holder in his/he...

January 9, 2020 2157 Views 0 comment Print

CBDT exempts from TDS cash withdraws by Authorised dealer & FFMC

Income Tax : CBDT exempts cash withdrawal by the authorised dealer and its franchise agent and sub-agent; and Full-Fledged Money Changer (FFMC)...

October 15, 2019 12297 Views 3 comments Print


Latest Posts in Section 194N

TDS on Cash Withdrawals: Understanding Section 194N

February 26, 2024 1758 Views 0 comment Print

Uncover the impact of Section 194N of the Income Tax Act on TDS for cash withdrawals over certain limits, aiming to reduce tax evasion and promote compliance.

Madras HC dismisses Writ Petitions, maintaining statutory mandate of Section 194N

December 26, 2023 3651 Views 0 comment Print

Explore Madras High Court’s judgment on primary agricultural credit cooperative societies challenging Circulars related to tax deduction on cash withdrawals, with a focus on Section 194N.

Madras HC Upholds Section 194N, Dismisses Challenges to Circulars by Co-op Banks

December 26, 2023 387 Views 0 comment Print

Explore the Madras High Court’s judgment on Primary Agricultural Cooperative Credit Societies challenging Circulars related to tax deduction on cash withdrawals, with an analysis of legal provisions.

Circulars mandating compliance of section 194A & 194N by co-op societies cannot be challenged under Article 226

December 25, 2023 510 Views 0 comment Print

Madras High Court held that circulars dated 16.03.2021, 05.08.2021 and 01.04.2021 mandating compliance of provisions of section 194A and 194N of the Income Tax Act by co-operative societies cannot be challenged under Article 226 of the Constitution of India.

Overview of Section 194N & Recent Landmark Judgments of Madras HC

December 25, 2023 5205 Views 0 comment Print

TDS on Cash Withdrawals – Section 194N of Income Tax Act, 1961: Section 194N provides that every banking company, cooperative bank, or post office shall be required to deduct tax at source from any sum paid in cash from one or more accounts maintained by the recipient. The tax shall be deducted at the rate of 2% or 5% as the case may be

Understanding TDS on Cash Withdrawals: A Comprehensive Guide

November 1, 2023 13074 Views 0 comment Print

Dive into the details of TDS on cash withdrawals under Section 194N. Learn about who needs to deduct tax, rates, exemptions, and more in this in-depth analysis.

TDS on Cash Withdrawals

September 2, 2023 2466 Views 0 comment Print

TDS on Cash Withdraw Understand TDS on Cash Withdrawals with insights on applicability, rates, and exemptions. Section 194N mandates a 2% TDS on cash withdrawals exceeding ₹1 crore. Learn about the time and conditions for deduction, plus scenarios exempt from TDS. Author CA. Atif provides a detailed example for clarity.

HC direct Center to consider exempting Primary Agricultural Cooperative Credit Societies from Section 194N purview

August 7, 2023 678 Views 0 comment Print

Madras High Court directed the Ministry of Finance, Government of India and CBDT to consider exempting primary agricultural cooperative credit societies from the purview of the provisions of Section 194N of the Income Tax Act, 1961.

TDS Rate Chart for FY 2023-24 / AY 2024-25 – Updated

July 25, 2023 50928 Views 4 comments Print

Updated TDS Rate Chart for FY 2023-24 (AY 2024-25). Find the latest rates for tax deduction at source for various transactions. Easy-to-understand guide.

Section 194N TDS on Cash Withdrawal: Applicability, TDS Rate & Provisions

July 17, 2023 4056 Views 0 comment Print

Discover the ins and outs of Section 194N – TDS on Cash Withdrawals. Uncover the threshold limits, applicability to individuals and entities, TDS rates, and recent amendments. Learn through illustrative examples for comprehensive insights. Stay informed and compliant with tax regulations.