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Applicability of section 206ab if business is new

Gandhar Palkar (23 Points)

13 August 2021  
Vendor started business in the previous year 2019-20...and filed late return and tds in his case is more than 50000...will 206ab attract??

 2 Replies

CMA Poornima Madhava (CMA) (12987 Points)
Replied 16 August 2021

No. 206ab would not apply in this case I think.

Gaurav Singh (Sales Engineer) (35 Points)
Replied 20 September 2021

A company located in Singapore is having a subsidiary office in India. Parent company (Singapore) deals in distribution & selling of medical Instrument via some dealers in India (India office is not involved in selling and all payments from customer/dealer end are directly made to Principal Company account in Singapore)

Section 206 AB will be applicable to Principal company in Singapore?

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