Tax Slabs on Cash Withdrawals above 20 Lakh

Tax Slabs on Cash Withdrawals above 20 Lakh

 

Aggregate cash withdrawals in all accounts in a financial year

TDS rates if copy of past 3 years’ Income Tax Returns has been submitted to the branch along with self-declaration.

TDS rates if copy of past 3 years’ Income Tax Returns has NOT been submitted to the Bank, along with self-declaration

Up to Rs. 20 lakhs

Nil

Nil

AboveRs. 20 lakhs, and up to Rs. 1 crore

Nil

2% (20%, if PAN not available)

Above Rs. 1 crore

2% (20% , if PAN is not available)

5% (20%, if PAN not available)

** Surcharge and Education CESS are applicable on the above rates for Non-resident customers.