TDS Section 194N Calculator

Calculate TDS under Section 194N of the Income Tax Act, 1961. This section covers various payments as specified in the Income Tax Act.

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About Section 194N

Section 194N of the Income Tax Act, 1961, deals with TDS on various payments as specified in the Act. The section specifies the TDS rates, threshold limits, and conditions for deduction.

Key Points:

Cash Withdrawal (₹20 lakhs - ₹1 crore): TDS rate of 2% applies on payments above the threshold limit
Cash Withdrawal (above ₹1 crore): TDS rate of 5% applies on payments above the threshold limit
If PAN is not provided, higher TDS rate (usually 20%) may apply
TDS must be deducted at the time of payment or credit, whichever is earlier
TDS must be deposited with the government by the 7th of the next month