TDS u/s 194N-Cash Replenishment Agencies & franchise agents of White Label ATM Operators exempted from TDS on cash withdrawal
MINISTRY OF FINANCE
(Department of Revenue) NOTIFICATION
New Delhi, the 18th September, 2019
S.O. 3356(E).—In exercise of the powers conferred by clause (v) of proviso to section 194N of the Income-tax Act, 1961 (43 of 1961), the Central Government after consultation with the Reserve Bank of India, hereby specifies Cash Replenishment Agencies (CRA’s) and franchise agents of White Label Automated Teller Machine Operators (WLATMO’s) maintaining a separate bank account from which withdrawal is made only for the purposes of replenishing cash in the Automated Teller Machines (ATM’s) operated by such WLATMO’s and the WLATMO have furnished a certificate every month to the bank certifying that the bank account of the CRA’s and the franchise agents of the WLATMO’s have been examined and the amounts being withdrawn from their bank accounts has been reconciled with the amount of cash deposited in the ATM’s of the WLATMO’s.
2. The notification shall be deemed to have come into force with effect from the 1st day of September, 2019.
[F. No. 370142/12/2019-TPL]
SAURABH GUPTA,
Under Secy. (Tax Policy and Legislation Division)
Explanatory Memorandum: It is certified that no person is being adversely affected by giving retrospective effect to this notification
addition u/s 68 addition u/s 69A ca misconduct cash deposit in bank cbdt circular CBDT Instruction cbdt notification cbdt order cbdt press release cgst circular cgst notification cit revision 263 concealment penalty condonation of delay covid-19 custom circular demonetisation due date extension e-way bill faq GST circular GST Council Meeting gst faq gstn advisory GSTR-3B GST rates IBBI ibc income tax prosecution itat ITAT Delhi mca circular MCA notification order u/s 119 penalty 271(1)(c) penalty u/s 271(1)(c) Press Release reasons recorded reopening 148 Reopening us 147 Search & Seizure sebi circular unexplained cash credits validity of notice u/s 148 Withdrawal of 2000 500 Bank Notes
RBI specifies ‘Related Party’ with respect to bank RBI has issued RBI Credit Risk Management Directions, 2025 defining ‘Related Party’…
Advisory on Filing Opt-In Declaration for Specified Premises, 2025 Dear Taxpayers, The relevant declarations issued vide Notification No. 05/2025 –…
FAQs for HSNS Cess Act, 2025 and HSNS Cess Rules, 2026 Q1. Who is required to get registered under the…
Refusing to condone delay can result in a meritorious matter thrown out at very threshold against case being decided on…
When prior period expenses are not admissible as deduction, following the same principle the prior period income also cannot be…
Supreme Court condoned delay of 972 days in filing appeal due to restructuring in Income Tax Department In a recent…
View Comments
Dear Sir,
Government has given exemption to sec 194N of the IT act and allowed franchisee agents of White level Atm Operators to maintain a separate bank account and withdraw cash from the same only towards cash loading of such WLA ATMs.
Please find the copy of
Gazette notification dated 18-Sept -2019 for exemption of 2% TDS on cash withdrawals above Rs One crore from WLA Franchisee agent accounts.
I have opened a account for cash loading purpose in white level atm of BTI in junnardeo branch ifsc sbin0001473. Kindly instruct the branch to provide TDS exemption to my account because branch has not aware about the process of giving TDS exemption despite of the notification dated 18 sep 2019. Please do it at your earliest.