Section 194N – TDS on Cash Withdrawals Exceeding Rs 1 Crore

For the past few years, the Indian government has been constantly making efforts towards reducing cash transactions and promoting digital transactions in pursuit of a ‘Digital India’. Towards this goal, the Finance Minister announced a tax on high-value cash withdrawals under Section 194N.

Section 194N – TDS on Cash Withdrawals Exceeding Rs 1 Crore

For the past few years, the Indian government has been constantly making efforts towards reducing cash transactions and promoting digital transactions in pursuit of a ‘Digital India’. Towards this goal, the Finance Minister announced a tax on high-value cash withdrawals under Section 194N.