Higher Rate of TDS from 1st July 2021 | S. 206AB & S. 206CCA | Income Tax Updates скачать в хорошем качестве

Higher Rate of TDS from 1st July 2021 | S. 206AB & S. 206CCA | Income Tax Updates

In this video I have explained in detail about section 206AB and section 206CCA. Section 194Q:    • TDS on Purchase of Goods | Section. 194Q |...   Please do give your valuable feedback after watching the video. Please share this video with your friends for whom this may be useful. Please do SUBSCRIBE to this channel. Thanks for watching. Arul Serabin A #section206ab #section206cca #incometaxupdates #highertds #highertcs Bare provisions of Income Tax Act: 206AB.(1) Notwithstanding anything contained in any other provisions of this Act, where tax is required to be deducted at source under the provisions of Chapter XVIIB, other than section 192,192A,194B,194BB, 194LBC or 194N on any sum or income or amount paid, or payable or credited, by a person (hereafter referred to as deductee) to a specified person, the tax shall be deducted at the higher of the following rates, namely:— (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 per cent. (2) If the provisions of section 206AA is applicable to a specified person, in addition to the provision of this section, the tax shall be deducted at higher of the two rates provided in this section and in section 206AA. (3) For the purposes of this section "specified person" means a person who has not filed the returns of income for both of the two assessment years relevant to the two previous years immediately prior to the previous year in which tax is required to be deducted, for which the time limit of filing return of income under sub-section (1) of section 139 has expired; and the 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: Provided that the specified person shall not include a non-resident who does not have a permanent establishment in India. Explanation.—For the purposes of this sub-section, the expression "permanent establishment" includes a fixed place of business through which the business of the enterprise is wholly or partly carried on. DISCLAIMER: This video and all other videos on this channel are merely a general guide meant for learning, training and information purposes only. All the instructions, references, content or documents are for educational and informational purposes only and do not constitute a legal advice or legal opinion. We do not accept any liabilities whatsoever for any losses caused directly or indirectly by the use/reliance of any information/content contained in this video and all other videos on this channel or for any conclusion of the information. Prior to acting upon this video or any other videos on this channel, it is suggested to seek advice of your financial, legal, tax or professional advisors.