Govt exempts cash payments above Rs 1 cr via AMPC from 2% TDS
The government had made the provision of levying 2 per cent TDS on cash withdrawals exceeding Rs 1 crore in the Union Budget with an aim to discourage cash transactions and move towards a less-cash economy.
In a relief to the farm sector, the government has decided not to levy 2 per cent tax deduction at source (TDS) on cash payments of over Rs 1 crore made through Agriculture Produce Market Committees (APMCs).
The government had made the provision of levying 2
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