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of <h1>Higher Tax Rates for Non-Filers: Section 206AB Targets Returns Overdue with Rs. 50,000+ TDS, Exclusions Apply</h1> Under section 206AB, if a taxpayer fails to file their return of income for the assessment years relevant to the previous year before the deadline specified in section 139(1), and if the aggregate tax deducted and collected at source is Rs. 50,000 or more, tax must be deducted at higher rates. This applies to all sums or income from which tax is deductible under Chapter XVII-B, except for certain specified provisions. Non-residents without a permanent establishment in India and those exempted by the Central Government are excluded from this requirement.
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