IT returns

Non applicability of higher TDS rate

Dear Customer, The Government of India (GoI) has introduced section 206AB in the Income-tax Act, 1961 (Act), which mandates higher Tax Deducted at Source (TDS) in case of non-filing of income tax returns (ITR) by a taxpayer for two immediately preceding financial years (FY). The new provisions are applicable from July 1, 2021. In case of …

Read more