SECTION 206AB

Section-206ab-of-income-tax-act-1961-c0b1dd06-caf101f4

Section 206AB & Section 206CCA – Implementation Guide (Including reference to all relevant circulars)

As per  Section 57 of Finance Act 2021 which is given effect from 1/07/2021- Section 206 AB and 206CCA was introduced which specifies deduction of TDS/TCS at double the rate of original rate with a minimum  limit of 5%  if the payee  has not filed the ROI for the 2 immediately preceding Assessment  years if …

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CBDT

Central Board of Direct Taxes [CBDT] has released compliance check facility for Section 206AB & Section 206CCA

This Facility has been introduced vide circular number 11/2021. Now, Quick Reference Guide and FAQ issued w.r.t to above compliance facility. Compliance Check for Section 206AB & 206CCA Quick Reference Guide Version 1.0 (June 2021) Directorate of Income Tax (Systems)Compliance Check for Section 206AB & 206CCA(Reporting Portal)Frequently Asked Questions (FAQs)Version 1.0 (June 2021) Read more …

Central Board of Direct Taxes [CBDT] has released compliance check facility for Section 206AB & Section 206CCA Read More »

Section-206ab-of-income-tax-act-1961-c0b1dd06

Did you know that certain taxpayers may have to pay double TDS from July?

Check what Finance Act 2021 says ? Earlier Article “stringent-provisions-under-the-income-tax-act-1961”, we discussed on section 194Q in details. Now, in this article we will discuss on Section 206 AB. There are certain rules about to change from July 1, 2021 in accordance with the announcements made in the Union Budget and as per Finance Act 2021.  …

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Stringent Provisions Section-194Q, 206AD and 206CCA

STRINGENT PROVISIONS UNDER THE INCOME TAX ACT, 1961- W.E.F. 1ST JULY, 2021

DID you KNOW? The Finance Act, 2021 introduced following stringent provisions under Income Tax Act, applicable from 1stof July, 2021. TDS ON PURCHASE OF GOODS [SECTION 194Q] (We can check out difference between corresponding section 206C(1H) – W.E.F 01st-Oct-2020) TDS FOR NON-FILERS OF INCOME TAX RETURNS [SECTION 206AB] (Refer already discussed, you may refer my …

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