RBI

TDS on cash withdrawal

TDS on Cash Withdrawal (Section 194N) (Expert Guide)

/ Income Tax

The Union Budget, 2020 amended Section 194N related to TDS on cash withdrawal from savings/current bank account. As per this amended Section, if an assessee has not filed Income Tax Return (ITR) for the last three financial years, then cash withdrawal from his/her savings or current bank account will attract TDS if the total amount withdrawn in a financial year exceeds Rs 20 lakh / Rs. 1 crore

Difference between Repo Rate & Reverse Repo Rate

Know About Repo Rate & Reverse Repo Rate

/ Financial

The central bank of India i.e., Reserve bank of India (RBI) formulates and monitors various policies which to regulate the flow of money in the economy. These policies also help in controlling the situations of inflation in the country. In this context, repo rate and reverse repo rate are instruments of RBI’s monetary policy that can help control the money supply in the economy.