11 June 2021
This provision is applicable for all contractors or there is limitation of turnover also. contractor means - transporter, freight forwarders, clearing agents
11 June 2021
Yes, it is applicable in respect of specified persons. The deciding factor is not the turnover here.
“Specified Person” means: 1) Person who has not filed the Income Tax Return (ITR) for 2 previous years immediately before the previous year in which tax is required to be deducted/collected; 2) The time limit of ITR filing under sub-section (1) of Section 139 is expired; and 3) The aggregate TDS or TCS is Rs. 50,000 or more in each of the 2 previous years.
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