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New Delhi, Jul 13: The Income Tax Department has facilitated a new functionality for banks and post offices to ascertain TDS applicability rates on cash withdrawal of above Rs 20 lakh in case of a non-filer of the income-tax return and that of above Rs 1 crore in case of a filer of the income-tax return.

In a statement, the Central Board of Direct Taxes (CBDT) said that now banks and post offices have to only enter the PAN of the person who is withdrawing cash for ascertaining the applicable rate of TDS.

So far, more than 53,000 verification requests have been executed successfully on this facility, a statement by the CBDT said.

"CBDT today said that this functionality available as 'Verification of applicability u/s 194N' on www.incometaxindiaefiling.gov.in since 1st July 2020, is also made available to the Banks through web-services so that the entire process can be automated and be linked to the Bank's internal core banking solution," it said.

On entering PAN by the bank or the post office, a message will be instantly displayed on the departmental utility: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 1 crore", in case the person withdrawing cash is a filer of the income-tax return.

In case the person withdrawing cash is a non-filer of income tax return, the message shown would be: "TDS is deductible at the rate of 2 per cent if cash withdrawal exceeds Rs 20 lakh and at the rate of 5 per cent if it exceeds Rs 1 crore."

The CBDT said that the data on cash withdrawal indicated that huge amount of cash is withdrawn by the persons who have never filed income-tax returns.

To ensure filing of return by these persons and to keep track on cash withdrawals by the non-filers, and to curb black money, the Finance Act, 2020 with effect from July 1, 2020 further amended IT Act to lower threshold of cash withdrawal to Rs 20 lakh for the applicability of this TDS for the non-filers and also mandated TDS at the higher rate of 5 per cent on cash withdrawal exceeding Rs 1 crore by the non-filers.

Soon, you may be able to withdraw cash from an ATM without touching any part of the machine. AGS Transact Technologies, a provider of cash and digital payment solutions and automation technology, on Monday said it has successfully developed and tested a touchless ATM solution in light of the COVID-19 pandemic.

The ‘contactless' solution, currently under demo at interested banks, enables a customer to perform all the steps required to withdraw cash from an ATM using the mobile app itself. 

The customer simply has to scan the QR code displayed on the ATM screen and follow the directions on their respective bank's mobile application. 

This includes entering the amount and mPIN required to dispense the cash from the ATM machine. 

According to the company, the QR code feature makes cash withdrawals quicker and more secure, and negates the chances of compromising the ATM Pin or card skimming.

"The new Touchless ATM solution is an extension of the flagship QR Cash solution which ensures safety of the users and will provide a seamless cash withdrawal experience with enhanced security," said Ravi B. Goyal, Chairman and MD, AGS Transact Technologies Ltd.

With minimum investment, the banks can enable this solution for their ATM networks by upgrading the existing software.

AGSTTL has so far installed, maintained and managed a network of over 72,000 ATMs across the country and also provides customised solutions to leading banks. 

The company earlier introduced UPI-QR based Cash withdrawal solution in partnership with Bank of India. 

This is how the solution works.

Open the Bank mobile application on your smartphone and select QR Cash Withdrawal. Enter the amount you wish to withdraw on the mobile app and scan the QR code on the ATM screen.

Next, confirm the amount by clicking on ‘proceed' in the app and enter the mPin to authenticate the transaction. Now collect the cash and receipt and you are done.

"The seamless, cardless and touchless withdrawal method is designed to provide easy transaction flow, without the need to touch the ATM screen or enter the pin," said Mahesh Patel, President and Group Chief Technology Officer, AGS Transact Technologies.

Denser places, assumed by many to be more conducive to the spread of the coronavirus that causes COVID-19, are not linked to higher infection rates, say researchers.

The study, led by Johns Hopkins University, published in the Journal of the American Planning Association, also found that dense areas were associated with lower COVID-19 death rates.

"These findings suggest that urban planners should continue to practice and advocate for compact places rather than sprawling ones, due to the myriad well-established benefits of the former, including health benefits," says study lead author Shima Hamidi from Johns Hopkins Bloomberg School of Public Health in the US.

For their analysis, the researchers examined SARS-CoV-2 infection rates and COVID-19 death rates in 913 metropolitan counties in the US.

When other factors such as race and education were taken into account, the authors found that county density was not significantly associated with county infection rate.

The findings also showed that denser counties, as compared to more sprawling ones, tended to have lower death rates--possibly because they enjoyed a higher level of development including better health care systems.

On the other hand, the research found that higher coronavirus infection and COVID-19 mortality rates in counties are more related to the larger context of metropolitan size in which counties are located.

Large metropolitan areas with a higher number of counties tightly linked together through economic, social, and commuting relationships are the most vulnerable to the pandemic outbreaks.

According to the researchers, recent polls suggest that many US citizens now consider an exodus from big cities likely, possibly due to the belief that more density equals more infection risk.

Some government officials have posited that urban density is linked to the transmissibility of the virus.

"The fact that density is unrelated to confirmed virus infection rates and inversely related to confirmed COVID-19 death rates is important, unexpected, and profound," said Hamidi.

"It counters a narrative that, absent data and analysis, would challenge the foundation of modern cities and could lead to a population shift from urban centres to suburban and exurban areas," Hamidi added.

The analysis found that after controlling for factors such as metropolitan size, education, race, and age, doubling the activity density was associated with an 11.3 per cent lower death rate.

The authors said that this is possibly due to faster and more widespread adoption of social distancing practices and better quality of health care in areas of denser population.

The researchers concluded that a higher county population, a higher proportion of people age 60 and up, a lower proportion of college-educated people, and a higher proportion of African Americans were all associated with a greater infection rate and mortality rate.