TDS on Cash Withdrawal

Himanshu (Student CA Final ) (114 Points)

06 July 2020

Can an assessee claim TDS deducted by bank on cash withdrawal against his tax liability (whether Credit can be claimed on not)?

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3 Replies

Satyajit Pradhan (2 Points)
Replied 06 July 2020

Yes. if PAN is updated at Bank Account. then whatever TDS deducted, may be in cash withdrawl and By IT Return submission, the TDS CAN BE CLAIMED.

Ravi SADhiyan (Practice) (4510 Points)
Replied 06 July 2020

Originally posted by : Himanshu
	Can an assessee claim TDS deducted by bank on cash withdrawal against his tax liability (whether Credit can be claimed on not)?

Yes He can Claimed TDS on Cash withdrawal its not related to Income

This is Govt. tool to track Cash Transaction

sabyasachi mukherjee (27636 Points)
Replied 07 July 2020

The limit is Rs. 1 crore for an assesse.

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