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File ITR to avoid TDS/TCS deduction at higher rate, say analysts

The CBDT has issued a circular pertaining to Sections 206AB and 206CCA of the I-T Act, which provide details regarding people to whom higher TDS/TCS rates should apply

Topics
ITR | TDS | TCS

Bindisha Sarang 

Income tax
Section 206AB provides information on a higher TDS rate that will apply while making payments to a person on the list.

Individuals who have not filed their income-tax returns (ITR) for 2020-21 (FY21) will now be on a list of non-filers prepared by the income-tax (I-T) department. Tax deduction at source (TDS) and tax collected at source (TCS) will be levied at a higher rate from such individuals with effect from April 1, 2022.

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First Published: Fri, May 20 2022. 06:06 IST
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