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.