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Section 206AB Special Provision For TDS For Non-Filers Of Income-Tax (IT) Return

Section is Applicable:

1. If person require to deduct tax under any of provision of Chapter XVIIB Tax Deduction at Sources.

2. Transaction is done with Specified person. (Specified person means a person who have not filed his return of Income of immediately two preceding previous years, for which due date U/s 139(1) has expired.

For Eg. If tax is required to deduct for July 2021, Previous year 2021-22, so for relevant immediately 2 preceding previous years for which ITR filing required to be checked are 2018-19 and 2019-20 (AY 2019-20 and 2020-21 respectively). As the time limit for Preceding Previous Year 2020-21 is not expired

3. Aggregate of tax deducted at source (TDS) and tax collected at source (TCS) in his case is rupees fifty thousand (50,000) or more in each of these two previous years.

Section is Not Applicable:

1. If Specified Person is Non-Resident who does not have a permanent establishment in India.

2. The section has overriding effect on all provisions of Chapter XVIIB of the Income tax Act, 1961

Except the Followings:

1.

192

TDS on Salary

2.

192A

TDS on Premature withdrawal from EPF

3.

194B

TDS on Lottery

4.

194BB

TDS on Horse Riding

5.

194LBC

TDS on Income in respect of investment in securitization trust

6.

194N

TDS on cash withdrawal in excess of Rs. 1 crore

Applicable Tax rate :

Tax shall be deducted at Highest of the Followings:

(i) at twice the rate specified in the relevant provision of the Act

or

(ii) at twice the rate or rates in force;

Or

(iii) at the rate of five percent.

If Section 206AA Is applicable to the Specified person than tax shall be deducted at higher of

1. Tax rate as per this Section

Or

2. Tax rate as per Section 206AA

New Section 206CCA

Section 206CCA “Special provision for TCS for non-filers of income-tax return”

Section is Applicable When

1. If person require to deduct tax under any of provision of Chapter XVII-BB Collection at source.

2. Transaction is done with Specified person. (Specified person means a person who have not filed his return of Income of immediately two preceding previous years, for which due date U/s 139(1) has expired.

For Eg. If tax is required to deduct for July 2021, Previous year 2021-22, so for relevant immediately 2 preceding previous years for which ITR filing required to be checked are 2018-19 and 2019-20 (AY 2019-20 and 2020-21 respectively). As the time limit for filing of Previous Year 2020-21 is not expired.

3. Aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in each of these two previous years.

Note :- One can refer above table for better understanding of applicability.

Section is Not Applicable :

1. If Specified person is Non-Resident who does not have a permanent establishment in India.

Applicable Tax rate :

Tax shall be deducted at Higher of the Followings:

(i) at twice the rate specified in the relevant provision of the Act;

Or

(ii) at the rate of five per cent.

If Section 206CC Is applicable to the Specified person, than tax shall be deducted at higher of

1. Tax rate as per this Section ;

Or

2. Tax rate as per Section 206CC