Articles by Vikas Rai
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TDS/TCS at higher rates in case of non-filers of ITR: Section-206AB & 206CCA
Posted by Vikas Rai
07 June 2021
4265 Views
With effect from July 1, 2021, a person will have to pay TDS/TCS at a higher TDS/TCS rate if he/she has not filed Income Tax Returns for the last two years and has aggregate TDS/TCS credit of Rs. 50,000 or more in each of the two years.
Applicability of Section 194Q TDS on Purchase of Goods
Posted by Vikas Rai
01 June 2021
16873 Views
The intention of section 194Q is to widen and deepen the tax base. In order to do the same, it is proposed to levy a TDS of 0.1% on purchase transactions exceeding Rs. 50 lakhs in a year.
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