Section 206AB/206CCA I Higher TDS/TCS Rate

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Last updated: 11 February 2021
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This document explains the new Sections 206AB and 206CCA of the Income Tax Act, 1961, introduced by the Finance Bill, 2021. These sections mandate higher TDS and TCS rates for individuals who have not filed their income tax returns for the preceding two years and meet certain tax deduction/collection thresholds. It clarifies the applicability, the specific higher rates applicable, and how these sections interact with existing provisions like Section 206AA. This information is crucial for taxpayers to understand their compliance obligations and avoid higher tax deductions or collections.

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Detail Description about Section 206AB and 206CCA with comparison of section 206AA and 206CC #docx
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Submitted by · Posted 11 February 2021 · Other files by rajat jain · Report
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