Tag: TDS u/s 194N

Calcutta High Court stays section 194N for TDS on cash withdrawal from bank In the instant case, the petitioner had challenged the constitutional validity and legality of Section 194N of the Income Tax Act, 1961 which mandates the deduction of tax at source at the rate of 2% …

CBDT provides ITR Filing Compliance Check Functionality for Scheduled Commercial Banks Now banks can check whether assessee has filed ITR or not Central Board of Direct Taxes in exercise of powers conferred under section 138(1)(a) of Income Tax Act, 1961, has issued Order in F.No. 225/136/2020/ITA.II dated 31.08.2020, …

CBDT Clarification on validity of notifications issued granting exemption under clause (v) of proviso to from section 194N prior to amendment by Finance Act 2020 CBDT Clarification on notifications granting exemption from section 194N Circular no. 14/2020 F. No. 370142/27/2020-TPL Government of IndiaMinistry of FinanceDepartment of Revenue Central …

Verification of applicable TDS rates u/s 194N on Cash Withdrawals-CBDT provides online utility/facilityfor banks/post offices   Government of IndiaDepartment of RevenueMinistry of FinanceCentral Board of Direct Taxes CBDT provides Utility to ascertain TDS Applicability Rates on Cash Withdrawals New Delhi, 12th July, 2020 The Income Tax Department has …

Credit of TDS u/s 194N shall be given to person from whose account tax is deducted for the financial year in which tax is deducted Credit of TDS paid u/s 194N THE GAZETTE OF INDIA : EXTRAORDINARY MINISTRY OF FINANCE(Department of Revenue)(CENTRAL BOARD OF DIRECT TAXES) Notification No. …