If I deduct under section 206AB whether it is again required to deduct under particular section e g. 194 C
or deduction under 206AB is enough
At the time of 26 Q return filling which head to show 194c or it reflects 206AB
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206AB
Replies (8)
Quick Summary
TDS should be deducted under section 194C
Section 206AB is a newly introduced section for deduction of a higher TDS rate for non-filers of income tax returns
Section 206AB is a newly introduced section for deduction of a higher TDS rate for non-filers of income tax returns
Tds at both time 194c and also for 206AB
206 AB s kind of penal section, that if seller doesn't file return in last 2 FY and he has tds credit of 50000, then buyer can deduct tds at a double rate or 5 % rate whichever s higher
You have to deduct tax as per 194C, but you need to take tds rate as per 206AB instead of 194C
TDS+TCS RS.50, 000/- Whether this TDS is from one particular deductor or aggregate of all deductors in 26A
Aggregate of tds and tcs from all
You mean total of 26AS, am i right? Thanks in advance
Total of tds and tcs
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