As per section 194N, if any assessee withdraw the amount of from banks, post office or co-operative society engaged in banking business more than __________ during the previous year 2020-21 then the tax will be deducted
CS Executive · Tax Laws and Practice · PYQS · June 2021
As per section 194N, if any assessee withdraw the amount of from banks, post office or co-operative society engaged in banking business more than __________ during the previous year 2020-21 then the tax will be deducted at rate __________ on the amount in excess withdrawn. (Assuming the cash withdrawn before May, 2020)
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax Act, 1961
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