The provisions relating to TDS on cash withdrawals have been restructured under the Income-tax Act, 2025. The earlier Section 194N of the Income-tax Act, 1961 is now covered under Section… Read more »
The Central Government has provided a significant update in the recent notification vide number 123/2024 regarding the applicability of Section 194N of the Income-tax Act, 1961. This update, effective from… Read more »
File Validation Utility (FVU) version 6.6 Addition of new column in Form 26Q & 27Q New column “Amount of cash withdrawal in excess of Rs. 1 crore as referred to… Read more »
File Validation Utility (FVU) version 6.5 Addition of new section code 194N (i.e. “Payment of certain amounts in cash”) for Form 27Q Same will be applicable for regular and correction… Read more »
A new Section 194N proposed to be included in Income Tax Act. If the withdrawal of cash exceeds Rs. 1 crore in a financial year a 2% of TDS will… Read more »
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