Cash Withdrawal Rules: There is a sudden need for cash. So it is very important to know the rules for withdrawing cash from the bank account. Otherwise you will face problems. Know the rules for withdrawing cash.
Cash Withdrawal Rules: Everyone deposits their money in the bank. By depositing money in the bank, the money remains safe and one also gets interest on it.
Whenever people need cash for any work, they go to the ATM and withdraw cash. Or they go to the bank and get cash. If you withdraw cash from the ATM, it has a limit of one day. That is, for example, an ATM has a limit of Rs 40,000, while another ATM has a limit of Rs 50,000.
If you want to withdraw more cash than this then you have to wait for the next day. But if you need more cash immediately then you can go to the bank and withdraw it. There are some rules for withdrawing cash from the bank.
Which you need to know. Like if you have to withdraw more than 20 lakh rupees and you have not filed ITR for 3 years, then you will have to pay TDS.
If you withdraw more than 20 lakh rupees in cash, you will have to pay 2% TDS. Whereas if you are withdrawing one crore rupees, you will have to pay 5% TDS.
But if you have filed ITR, then you will not face any problem. You will be able to withdraw cash without paying TDS.
If we talk about the limit, in some banks the cash withdrawal limit is 1 lakh. Whereas in some banks it is up to 5 lakhs.
