SECTION 206CCA

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 »

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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