SBI Alert! Do this to avoid paying tax on cash withdrawal above this amount
If you are a SBI customer and you withdraw cash of Rs 20 lakh and above in a year, then this tax saving advice from the bank will be of great help to you. The largest public sector lender tells how customers can save themselves from paying unnecessary TDS on cash withdrawals of Rs 20 lakh and above. All you have to do is follow these 3 simple things
SBI further says that for customers who have filed their ITR for the past 3 years, the tax will be continued to be deducted at the 2 per cent rate on amount exceeding Rs 1 cr. Source: PTI