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<h1>New Compliance Tool for Higher TDS/TCS Rates u/ss 206AB and 206CCA, Effective July 1, 2021.</h1> The notification from the Central Board of Direct Taxes introduces a compliance check functionality for Sections 206AB and 206CCA of the Income-tax Act, 1961, effective from July 1, 2021. These sections impose higher TDS/TCS rates on 'Specified Persons' who have not filed income tax returns for the two preceding years and have tax deductions or collections of Rs. 50,000 or more. The functionality allows tax deductors and collectors to identify such persons via the Reporting Portal. It includes PAN search and bulk search modes for verification. Registration and access procedures are detailed, and support is available through guides and customer care.