Oct 19, 2021
The Budget 2021 included Sections 206AB and 206CCA provision requiring non-filers of ITR for the previous two financial years to pay higher TCS & TDS rates.
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The Budget 2021 included Sections 206AB and 206CCA provision requiring non-filers of ITR for the previous two financial years to pay higher TCS & TDS rates.
How to do Compliance Check for Section 206AB & 206CCA
How to do Compliance Check for Section 206AB & 206CCA
Section 206AB and 206CCA are inserted in the Income-tax Act,1961 via Finance Act 2021 are now effective from 1st July 2021. These sections impose a higher TDS/TCS rate on the “Specified Persons”, as defined in the new sections. In view of the above, Income Tax Department has facilitated a new functionality “Compliance Check for Section 206AB & 206CCA” to facilitate tax deductors/collectors to…
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