Section 206 AB tds

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Account Executive
67 Points Posted on 24 July 2021
If tds deducted of a person is more than 50000/- in each of the financial year (2018-19& 2019-20) even he filed ITR before the due date i.e 31 July of the year but he revised his ITR after 31 July. the concern is that as per the section 206 AB on which rate the tds will be deducted i.e at twice or normal rate.
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On 24 July 2021 at 09:23 Report
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This discussion clarifies the application of Section 206AB TDS when an individual's TDS exceeds £50,000 in a financial year and they file their Income Tax Return (ITR) after the due date, even if it's a revised filing. The consensus is that TDS will be deducted at normal rates, not double the rate, provided the individual is not a 'specified person'. Checking the deductee status on the insights portal is recommended for confirmation.

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Chartered Accountant
24588 Points Posted on 24 July 2021
I think normal rate should be deducted
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On 24 July 2021 at 10:10
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Practising CA
8954 Points Posted on 24 July 2021
It will be deducted at normal rates. You can check status of the deductee on insights portal if he is a specified person or not.
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On 24 July 2021 at 10:11
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Chartered Accountant
24588 Points Posted on 24 July 2021
Thanks for the information
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On 24 July 2021 at 10:15

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