Skip to main content

TDS/TCS New Rules Applicable to Non-filers of Income Tax Returns

 The Finance Act 2021 has acquainted another arrangement relating to keeping charge (Section 206AB) which accommodates a higher portion charge rate on the off chance that the merchant to whom the installment is to be made has not documented his government form for the past two monetary years.

This new arrangement is pertinent from 1 July 2021 and will apply to any receipt on or after 1 July 2021. A comparable Section 206CCA is additionally embedded for TCS. The essence of the new arrangement is as under

Keeping charge on specific installments to determine people to be higher of the accompanying:

  1. Twice the rate determined; or
  2. Twice the rates in power; or
  3. Five percent

A predefined individual is somebody (barring non-occupants who don't have a Permanent Establishment in India) who has not recorded an annual government form for the two going before years and the total of keeping the charge for his situation is INR at least 50,000 in every year.

Certain Payments have been characterized to mean all installments which are exposed to keeping charge aside from where the portion charge is pertinent in the accompanying cases.

  • Pay
  • Untimely withdrawal of EPF
  • Rewards from any lottery or games or crossword puzzles
  • Pay regarding interest in securitization trust
  • Rewards from any horse races

TDS on cash withdrawals

We prescribe that notwithstanding the typical PAN numbers, you request annual expense documenting subtleties as affirmation numbers for the beyond two years prior to making the installments.


  1. This is a very interesting post. If you are looking for Income Tax Services Near Me is an online tax filing software that helps you to easily file your taxes. Our team of tax experts will guide you through the process and answer any questions. Investigate our site, for more info.

  2. You wrote this post very carefully. The amount of information is stunning and also a gainful article for us. Keep sharing this kind of articles, Thank you.Tds Filing in Chennai

  3. Really appreciate this wonderful as we have seen here. This is a great source to enhance knowledge for us. Thankful to you for sharing an article like accountant for tax return in durham

  4. You wrote this post very carefully. The amount of information is stunning and also a gainful article for us. Keep sharing this kind of articles, Thank you.Casual Bookkeeper Melbourne Australia

  5. I would like to say this is a well-informed article and also beneficial article for us. Keep sharing this kind of articles, Thank you.Tax Planning Management Service Provider Gorakhpur


Post a Comment

Popular posts from this blog


 As per GST governance, any business operations whose periodic development exceeds Rs 40 lakhs must register as a separate taxable provision. This procedure is called GST enrollment. It takes around 2-6 working days to get the GST enrollment. As per GST governance, if you're doing any business without GST enrollment, it's considered an offense. What's GST Registration? GST Registration was introduced in India in July 2017. As per the act, it's a mixture of indirect taxes like VAT & Service tax for the same. It's needed when your development or deals cross relatively 40 lakh rupees during a time (10 lakh for NE * Hill States) as per the newest correction from 1st April 2019. For some specific businesses, it's obligatory enrollment without crossing the turnover limit. Forex, if you are running an e-commerce business also you've got to need the GST Registration from the starting of business. We at Elixir Business Solution help you Apply GST Registration On

Benefits of Hiring a Chartered Accountant

 Why Hire a Chartered Accountant for Your Business?  A Chartered Accountant  is someone who specializes in accounting and helps you make the best decisions related to your business.  The company believes that good CPAs do a variety of things to help managers and owners with legal and financial advice, strict bookkeeping, and finding  effective ways to cut costs. Without a Chartered Accountant, no business can thrive.  Helping Control Costs:  Controlling costs and maintaining profitability is essential for any business. Without cash flow tracking, the costs far outweigh the benefits. CPAs can help business owners save money. A public accountant must ensure that a company is not shaken by a financial crisis.  Supporting the right investment:  A CPA not only works to make business solutions affordable, but also provides advice on the right investments that will benefit your company in the long run. Chartered Accountants give you the best way to help your business grow and become a profita