The Income Tax department has released a tool for TDS calculator through which taxes could be calculated. TDS calculator will calculate the TDS for dividends, cash withdrawal, rent to a resident, etc. To discourage the cash transaction, Under Finance Act 2020, Income tax department has levied 5% income tax for the amount withdrawal above 1 crore under section 194 N from the bank whereas if the amount is from 20 Lakh up to 1 crore, TDS @ 2% is levied. All information is collected from the internet.
Link is as follows: