Non-filer TDS applicability expanded to additional withholding provisions and tightened specified-person filing criteria from next fiscal year. Amendment enlarges the list of withholding provisions attracting the special deduction rates under section 206AB and omits a bracketed definitional ... Summary
Non-filer TDS applicability expanded to additional withholding provisions and tightened specified-person filing criteria from next fiscal year.
Amendment enlarges the list of withholding provisions attracting the special deduction rates under section 206AB and omits a bracketed definitional phrase. It further revises the definition of "specified person" so that the provision applies where the person has not furnished the return for the assessment year relevant to the immediately preceding previous year (for which the time for filing has expired) and the aggregate of TDS and TCS in that previous year meets the statutory threshold. The amendment takes effect from the start of the next fiscal year under the Bill.
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